ITunes Service Apple Mobile Device Failed to Start

I’ve encountered an error message after installing iTunes 10.5 on my netbook stating that “Service Apple Mobile Device' (Apple Mobile Device) failed to start. Verify that you have specific privileges to start system services”.
I though there might something wrong in the installation process so I uninstalled iTunes and all Apple programs and restarted the netbook. After which I installed it again but I still get the same error. I have no idea why this is happening. Can someone help me with this?
