Verizon iPhone a 'fait accompli'?

Yet another news publication says it has confirmation of a Verizon iPhone out early next year.

By Kim Peterson Oct 29, 2010 2:23PM
Credit: Apple CEO Steve Jobs holds up iPhone 4 as he talks about the Apple iPhone 4 at Apple headquarters in Cupertino, Calif., Friday, July 16, 2010 (© Paul Sakuma/AP)Fortune has jumped onto the Verizon iPhone bandwagon, saying it has confirmed that the highly anticipated device will be released early next year.

Fortune doesn't say exactly how it got confirmation -- though, ahem, it did interview chief executive Ivan Seidenberg in the same article. "People familiar with its development say it is a fait accompli," writes Sarah Ellison.

Since its launch, Apple's (AAPL) iPhone has been the exclusive domain of carrier AT&T (T) in the U.S. And users have howled, bashing AT&T's network as slow and buggy, dropping calls and fouling data speeds.

The masses are practically begging Apple to open up the iPhone to another carrier, and Verizon (VZ) has been the most likely candidate for a long time. The rumors exploded when Verizon began offering connectivity for Apple's iPad tablet. Post continues after video:
Fortune reports that Apple did offer Verizon the exclusive on the iPhone in 2005 but that Verizon passed. The carrier thought Apple and chief executive Steve Jobs wanted too much control (big surprise there) over the device and too much commission out of the monthly service fees.

Verizon executives stayed in touch, however, and one -- Lowell McAdam -- called Jobs in December 2007, Fortune reports.

"We really ought to talk about how we do business together," McAdam reportedly said. "We weren't able to (reach an agreement) a couple of years before, but it's probably worth having another discussion to make sure we're not missing something."

Jobs reportedly responded: "Yeah, you're probably right. We have missed something."

AT&T pretty much confirmed a Verizon iPhone as well. "Verizon's network hasn't been battle-tested yet, so you don't know if they can handle the data load or not," a spokesman told Fortune.

Even though AT&T has been busy upping its game to compete with Verizon on data capacity, this much is clear: The launch of a Verizon iPhone will be one of the biggest tech events of the year.


0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

124
124 rated 1
267
267 rated 2
467
467 rated 3
605
605 rated 4
645
645 rated 5
691
691 rated 6
617
617 rated 7
459
459 rated 8
313
313 rated 9
130
130 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
AAPLAPPLE Inc10
ATVIACTIVISION BLIZZARD Inc10
BIDUBAIDU Inc10
BXTHE BLACKSTONE GROUP L.P10
CELGCELGENE CORP10
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.