Finally, Verizon Wireless (VZ) subscribers are going to get the iPhone.
Verizon Wireless today said Apple's (AAPL) iPhone 4 will be available on its network beginning Feb. 10, ending AT&T's (T) exclusive hold on the device since June 2007. Existing Verizon customers will be able to to pre-order the phone starting on Feb. The Verizon iPhone will sell with a two-year contract at $199 for a 16 GB device and $299 for the 32 GB version, similar prices to AT&T's offers.
There were two downfalls to today's announcement: Verizon did not include any information about the cost of data plans, and existing AT&T customers who might want to switch to Verizon face early termination fees of up to $325.
The Verizon iPhone will run on its CDMA network, which means users won't be able to use the phone and surf the Internet at the same time. International users might find trouble with the Verizon iPhone, as well -- it will work on far fewer countries than the AT&T iPhone. Verizon is rolling out a new 4G LTE network, but Apple Chief Operating Officer Tim Cook said at a news conference today that designing the iPhone for Verizon's new network would mean design compromises that could delay its introduction. “Verizon customers told us they want the iPhone now," he said.
Either way, the iPhone should be a boon for both Verizon Wireless and Apple -- giving Apple access to Verizon's 93 million customers. Analysts expect Verizon Wireless to sell at least 9 million iPhones in 2011, whereas AT&T is expected to sell 6 million.
Verizon Wireless is a joint venture between Verizon Communications and Vodafone.
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