|Lowell McAdam, left, Verizon President and COO, and Tim Cook, COO of Apple, announce the arrival of the Verizon iPhone.|
NEW YORK ( TheStreet) -- Ending almost a year of speculation, Verizon ( VZ) announced Tuesday it will release Apple's ( AAPL) iPhone 4 to consumers on Feb. 10. Verizon customers will be able to pre-order the phone online on Feb. 3, ahead of general availability. The iPhone will start at $199.99 for the 16GB version and $299.99 for the 32GB version with a new, two-year customer agreement.
The phone will include FaceTime for video calling, as well as personal Hotspot capabilities to connect up to five Wi-Fi enabled devices. Analysts expect sales of the Verizon iPhone to top 9 million this year. Verizon, the nation's largest carrier, has about 93 million subscribers on its network. While widely expected to be well-received, the Verizon iPhone presents a few questions for tech watchers, namely about the looming arrival of Apple's iPhone 5, a 4G device expected to be released this summer; the iPhone's impact on Verizon's margins and how the loss of iPhone exclusivity will fare for AT&T. TheStreet live-blogged the Verizon iPhone announcement, which was held at a New York City jazz hall. Shares of Verizon fell 2.12% to $35.16 at noon trading Tuesday, while shares of Apple were down 0.33% to $341.34. --Written by Olivia Oran in New York. >To follow the writer on Twitter, go to http://twitter.com/Ozoran. >To submit a news tip, send an email to: firstname.lastname@example.org.