New iPhone users on Verizon's network won't find preloaded carrier software on their phones, but will be able to download carrier-specific apps from iTunes.

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In addition to the new CDMA iPhone, Apple will also release a new iPad with a built-in CDMA radio to allow the touchscreen tablet to connect to Verizon's network, the carrier revealed on Tuesday.

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iPhone competitors running the Google Android mobile operating system are expected by one Wall Street analyst to rapidly embrace Verizon's 4G long-term evolution high-speed data network, to fight off the presence of Apple's 3G-only smartphone.

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Apple Chief Operating Officer Tim Cook revealed on Tuesday that his company's agreement with Verizon for the CDMA iPhone is non-exclusive, meaning the new handset could also appear on Sprint's CDMA network.

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The new Verizon-bound CDMA iPhone showed off at a press event on Tuesday also sports a new build of iOS, with version 4.2.5 featuring a built-in "Personal Hotspot" feature.

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Verizon has answered a number of questions customers may have about the forthcoming launch of Apple's iPhone 4 on its network, addressing topics such as handset upgrade eligibility and data requirements.

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The new iPhone 4 from Verizon will come preinstalled with a free 3G Mobile Hotspot application for Wi-Fi tethering, but the new handset will not offer simultaneous voice and data connections like AT&T [updated].

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Ending years of anticipation, Apple and Verizon announced Tuesday that the iPhone 4 is coming to the largest wireless carrier in the U.S. on Feb. 10 at a starting price of $199.

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The ongoing rivalry between AT&T and Verizon has picked up steam again, with the two companies trading jabs at one another before Verizon is expected to announce it will sell Apple's popular iPhone today.

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On the eve of the expected Verizon iPhone launch, Wall Street analysts are chiming in with warnings that AT&T could be in for a rough year, with one analyst predicting that AT&T will "get demolished."

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Analysts say Verizon will spend billions this year to make it easy for customers to sign up for data contracts with Apple's iPhone.

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An analyst with UBS AG says Apple's Verizon iPhone will immediately become the carrier's top model, eating up sales of other devices, including Android licensees and RIM's BlackBerry.

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Verizon's network is said to be more than capable of handling an influx of millions of iPhone users, even when offering them unlimited data service.

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Responding to rumors of an imminent Verizon iPhone launch, AT&T has countered by touting the speed of its network, which a recent study found to be 20 percent to 60 percent faster than competitors.

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Verizon may charge between $20 and $30 more than AT&T for the subsidized Apple iPhone price, due to the higher cost of CDMA wireless components, according to J.P. Morgan.

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Though the arrival of the iPhone on Verizon is expected to increase overall U.S. iPhone sales for Apple, the effect on carrier AT&T is expected to be significant.

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Analysts predict Apple's expansion of the iPhone to Verizon in the US will net 9 to 12 million iPhone subscribers this year, nearly as many as AT&T attracted in 2010.

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Verizon will reportedly announce the iPhone on Tuesday paired with its existing service plans, including an all-you-can-eat data plan, and become available to subscribers later this month.

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As speculation surrounding Verizon's iPhone reached a fevered pitch, the Wall Street Journal has confidently announced that the carrier has finally landed Apple's iPhone.

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A new report claims that Apple Chief Executive Steve Jobs will likely make an onstage appearance next Tuesday at Verizon's media event, which is rumored to contain the long-awaited announcement of a Verizon-compatible CDMA iPhone.

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