WSJ reports:

The new iPhone would be similar in design to the iPhone 4 currently sold by AT&T Inc. but would be based on an alternative wireless technology called CDMA used by Verizon, these people said. The phone, for which Qualcomm Inc. is providing a key chip, is expected to be released in the first quarter of next year, according to the same people.

Interestingly, Apple is said to be developing a new iPhone 5 with a different form factor but no other information is available. However, spokeswomen for Apple and Qualcomm and a spokesman for Verizon Wireless declined to comment.

If the rumors turns out to be legit then this would be the first time in US that iPhone will be made available across multiple carriers apart from AT&T. Statistically, Verizon is the largest US wireless carrier, with 93 million subscribers and if Apple signs a deal with the Verizon then the iPhone 4 sales would get nearly doubled. Steve knows that Android is quickly catching up with the market and it is better to act now before it is too late.

Lowell McAdam, Verizon’s President and COO commented, or rather no-commented during the CTIA show:

“This is one of those things that rolls out every few weeks whether there’s a basis for it or not,” he said when asked to comment on the story. “I can’t give you any insights. But I think Apple is the one that has to make that announcement.”

“What I’ve always said is I expect at some point in time our business interests are going to align. I think things like LTE are another great reason why they’d want a device or tablet on that network. But I don’t have anything to say today about timing.”

Thanks to gadgetsdna