Verizon Spies No iPhone on the Horizon

'The decision is in Apple's court,' says Seidenberg. 'We would be interested if they wanted us as a partner.'
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NEW YORK (

TheStreet

) --

Verizon

(VZ) - Get Report

and Apple are still dancing around the iPhone.

On an earnings conference call, CEO Ivan Seidenberg said there was "nothing different" to talk about with regard to

Apple

(AAPL) - Get Report

when asked about the possibilities of having the iPhone next year.

"The decision is in Apple's court," Seidenberg said. "We would be interested if they wanted us as a partner."

Seidenberg went on to say that Verizon has many other phones, including an expanded offering from

Research In Motion

(RIMM)

, the upcoming

Motorola

(MOT)

Droid powered by

Google's

(GOOG) - Get Report

Android operating system.

"We have been broadening the base of choices for our customers," says Seidenberg. "And maybe along the way, Apple will decide to jump on the bandwagon."

The Droid Wars

Image placeholder title

The comments come after Verizon reported a largely in-line third-quarter performance with wireless growth helping to offset continued deterioration in the company's old-line phone business.

Adjusted earnings, excluding one-time items, was 60 cents a share, down 9% from the 66-cent level in the year-ago quarter, but a penny better than the 59 cents analysts were looking for, according to Yahoo! Finance.

Sales for the third quarter ended last month were $27.2 billion, up 10% from the $24.7 billion last year and in line with the $27.2 billion in revenue that analysts were expecting.

In wireless, Verizon added 1.2 million new subscribers including 1 million in post-paid retail customers, which

matched analysts' expectations

for the quarter. The subscriber growth, while solid, showed signs of weakness in areas such as the increase in churn. The monthly subscriber defection rate rose to 1.49% from 1.33% in the year-ago period

because of competition

, largely from

AT&T

(T) - Get Report

and the Apple iPhone.

In Verizon's core wireline business, the access line count continued to fall. Total phone lines fell 10% to 33.4 million from 37.1 million a year ago. But some growth in the company's FiOS, fiber optic TV and Internet service helped offset the line erosion slightly.

Verizon says it added 198,000 net new FiOS Net customers, a 49% gain from year-ago levels, but below analysts' expectations. And in FiOS TV, Verizon says it added 191,000 net new users for a 68% year-over-year gain that was still well below the 250,000 target analysts had.

"Even through the worst of the recession, we have continued to raise our dividend and to add new customers, expand markets and grow revenues based on the power and innovation of Verizon's wireless, broadband and global networks," CEO Ivan Seidenberg said in a press release Monday.

The balance sheet offered a mixed picture: Cash generation was strong, but debt continued to balloon in the third quarter. Free cash flow for the first nine months was $10.7 billion, up $3.3 billion from the first nine months of 2008. But total debt has grown 21% to $62.8 billion in the past year.

Verizon shares were up 11 cents to $28.96 in recent trading.