You read that right! Apple (NASDAQ:AAPL) and Verizon (NYSE:VZ) have officially announced the debut of the iPhone 4 on Verizon Wireless’ network. The companies held a joint press conference earlier in the week to make the announcement.
The long anticipated launch of the iPhone 4 on Verizon’s network signals a change in the fierce smartphone market. People who were averse to locking in two-year contracts with AT&T (NYSE:T) will now have an alternative service provider to choose for the iPhone. According to a report from TechCrunch, Apple’s COO Tim Cook went on the record saying “Verizon customers have told us they want the iPhone now,” noting that this demand prevented the immediate launch of a 4G-capable iPhone on Verizon’s new LTE network. Instead of offering a 4G-capable device, Apple’s Cook stated that “design compromises” forced the company to launch the iPhone 4 as is.
With such buzz surrounding this week’s announcement, it comes as no surprise that the research firm ChangeWave Research recently released a survey indicating how many current iPhone users plan to abandon AT&T for Verizon. The survey indicated that 26% of all current iPhone users (those on AT&T) plan on switching to Verizon. While this doesn’t bode well for AT&T, all things exclusive must come to an end. It does, however, mean good news for the mobile application market, potentially representing an increase in the number of iPhone users and will definitely serve as a catalyst in the ongoing Android/iPhone battle for market share.