Report: Apple to build iPhone for Verizon by year's end

Apple plans on producing a version of the iPhone for Verizon Wireless customers before the end of this year, according The Wall Street Journal.

Sources told the Journal the new phone would be similar to the iPhone 4 but based on an alternative wireless standard known as CDMA used by Verizon. The phone would like be released to the public in early 2011. Verizon shares were up slightly on the news. Apple is also reportedly developing a fifth-generation iPhone with a different form factor, but details were unclear.

The move would also mean an end to the exclusive arrangement in place between Apple and AT&T since the iPhone's debut in 2007. The iPhone has been credited with significantly boosting AT&T's standing in the smartphone market and a Verizon edition could eat into the company's market share. AT&T's stock was down almost 2 percent at the time of this posting.