Verizon iPhone: the Rumor that Just Won't Die
The rumor about Apple making a separate phone for Verizon lives on. This time, it's the Wall Street Journal pushing the story
, though, and the financial markets got so excited by the news that the price of Apple stock shot past its all-time high. According to the report, Apple is working with two manufacturers to build two nearly identical fourth-generation iPhones, both of which would begin shipping in late summer.
Apple has released a new model of the iPhone every June or July since 2007, and the fact that there's a new phone coming in pretty much a foregone conclusion. There is a widespread assumption that Apple's original exclusivity deal with AT&T would be ending this year, and so many observers have speculated about a second US carrier for the iPhone. Though Verizon's network uses CDMA rather than the iPhone's GSM protocol, it's much larger in terms of subscribers than third-place T-Mobile. Rumors about Apple working on a CDMA iPhone have been bouncing around since the middle of last year, with a story in the newspaper USA Today
claiming that Apple and Verizon were reopening talks which had broken down years before over financial issues.
The Wall Street Journal
reported in its online edition this evening that Apple has contracted with Taiwan-based Pegatron Technology, a subsidiary of ASUSTeK, to build the CDMA version of the fourth-generation iPhone. Citing unnamed "people briefed on the matter," the article written by Yukari Iwatani Kane, Ting-I Tsai and Niraj Sheth said that Hon Hai, whose Foxconn unit currently makes the iPhone (as well as the iPod and the Mac mini), would build the GSM model. An AT&T spokesperson was quoted as saying that "there has been lots of incorrect speculation on CDMA iPhones for a long time. We haven't seen one yet and only Apple knows when that might occur."
Apple stock reached an all-time high
of $232.39 at the close of trading on the New York Stock Exchange at 4pm US Eastern Time. In after-hours trading, the price went up almost $4 before settling at $236.05 by 5pm.