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NEW YORK (

TheStreet

) --

Verizon

(VZ) - Get Verizon Communications Inc. Report

said Thursday it has restored service on its super-speedy 4G LTE network, which crashed Wednesday.

The company said its "network engineers and vendors quickly identified the issue and solved it," but a rep declined to identify what happened to bring the network down.

On Wednesday, users of the

HTC Thunderbolt

and various wireless data cards awoke to a 3G and 4G service outage. The phones that normally zip along on the brand new 4G LTE system were stuck in the slow 2G speeds on Verizon's 1X CDMA network.

The outage comes as Verizon attempts to distance itself from rival

AT&T

(T) - Get AT&T Inc. Report

with a superior 4G service, and win lucrative smartphone contract customers. The timing is rather unfortunate for Verizon, which had hoped to launch its second 4G LTE phone -- the

TheStreet Recommends

Samsung

Droid Charge -- Thursday.

Verizon reps did not reply to questions about the timing of the Droid Charge launch.

Verizon shares, which have been up 6% so far this year, fell 1% to $38 midday Thursday.

--Written by Scott Moritz in New York.

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