3 On Your Side: It's Official Verizon Teams Up With Apple
PHILADELPHIA (CBS) -- It was the announcement that many Verizon customers have been waiting for; word that the company will now begin selling the Apple iPhone. This will end AT&T's reign as the exclusive carrier of the wildly popular smart phone.
"Today we're bringing to market the fruit of our strategic partnership, with another giant of the hi tech industry, and that's Apple," said Verizon CEO, Lowell McAdam. Verizon officials have finally announced that early next month the revolutionary iPhone 4 will be available through their network.
Apple officials say that Verizon customers made it very clear that they wanted the iPhone. Apple Chief Operating Officer Tim Cook says, "I can't tell you the number of times that I've been asked and my colleagues have been asked, over the incredible success of the iPhone, the most popular question has been when will the iPhone work on the Verizon network. we wanted to provide people that choice now."
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Beginning February 3rd existing Verizon customers will can pre-order the iPhone4. For all others it goes on sale February 10th. The price will be $200 or $300 with a 2 year contract, depending on the model.
Verizon's iPhone will work only on the carriers current 3G network even though the carrier has fired up a faster 4G network in many cities. The lack of 4G means that the Verizon phone will have much slower data speeds than AT&T's, at least in areas where AT&T has upgraded it's network. The upside? Verizon has a much wider 3G coverage than AT&T.
Verizon is expected to sell as many as 12 million iPhones this year. Analysts say they don't expect to see a mass exodus to Verizon as many AT&T customers are locked into contracts and to get out, they'd have to pay a hefty price.
Reported By Jim Donovan, CBS 3
