The correct spelling of the word is actually "Launched" /lɔːntʃt/. The IPA phonetic transcription for this word indicates that it is pronounced with a long "o" sound followed by a "nch" sound and ending with a "t" sound. The incorrect spelling of "Lanched" might be due to confusion with similar sounding words such as Lanced or Lunch. However, it is important to use the correct spelling to avoid any confusion in communication.