NEW YORK (

TheStreet

) -- Ending almost a year of speculation,

Verizon

(VZ) - Get Report

announced Tuesday it will release

Apple's

(AAPL) - Get Report

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.

Lowell McAdam, left, Verizon President and COO, and Tim Cook, COO of Apple, announce the arrival of the Verizon iPhone.

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

.

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