Apple, Verizon to Launch iPhone Next Year: Report

Verizon Wireless
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Verizon Wireless

Apple will partner with Verizon to debut a new iPhone early next year, according to a report from The Wall Street Journal Wednesday.

The new phone will be similar to the current iPhone 4 sold by AT&T. However, the phone is expected to use an alternative wireless network technology known as CDMA. AT&T phones use GSM network technology.

AT&T has had an exclusive arrangement with Apple to carry the hugely popular smartphone since its 2007 launch.

A study released last month from professional services organization Deloitte found that nearly half of all iPhone users would be "very interested" in making a switch to Verizon if that option became available.

Sources also told the Journal that Apple is currently developing its model for a fifth-generation iPhone.

A spokesperson for Verizon declined to comment when reached by CNBC Wednesday afternoon. Shares of the company were up slightly in New York trade.

Shares of AT&T were lower on heavy volume.