Some guys has managed to hack Verizon iPhone 4 and work it on CricKet carrier which also runs on CDMA 3G network. They install some third party MMS software after jailbreaking it. The iOS device was able to fully flash on Cricket carrier.
Wall Street Journal have reported that a Chinese carrier named China Telecom has managed to unlock the CDMA based Verizon iPhone to run on their CDMA network. The article seems a little confused as to the differences between a jailbreak or unlock.
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