After a few months from iphone launch it seems like theres going to be a similar competitor for the iphone. Verizon will release a iPhone competitor by late summer.
Well the fact is that Verizon actually had first dibs on the iPhone, but refused it.
It seems that Apple had approached Verizon with the iPhone, but it turned it down because it felt that Apple’s terms for exclusivity were unreasonable.

Verizon Wireless vice president Jim Gerace felt that it wasnt actually beneficial hence the offer was refused.

Verizon is currently working with an unnamed manufacturer on a phone that will directly compete against the iPhone. Umm now this seems to be something really interessting. Lets wait and watch how the iphone will get affected by this move from Verizon.