After a long wait from its anxious customers the telecommunications company Verizon has finally launched iPhone in the market. In a media event in New York today the carrier giant announced that after a long negotiation process it has succeeded in providing its customers with the iPhone.

Verizon President COO, Mr. Lowell McAdam talked about Verizon's network and further business investment plans and the impact of today's announcement on its customers.

McAdam said during the event, "Verizon and Apple have been working together for two years to make the Verizon iPhone a reality." He added that the phone will be in the store for its customer by next month.

Apple COO, Mr. Tim Cook who was also present in the event later launched the phone officially. However, the phone is a CDMA handset which will unfortunately not be compatible to Verizon's latest 4G service.

Mr. Cook said, "Apple has enormous respect for Verizon and the hard won loyalty from its customers."

Verizon Wireless CEO, Mr. Dan Mead talked about the logistics and announced that the Company will start providing training to its employees by next week and improve its delivery network to control the new sales volume which is much higher for the present system to tackle.

One reporter asked about the inefficiency of a CDMA set to run voice and data trafficking simultaneously. Answering to that Mr. Mead said that he was right as this new device work like any other CDMA device apart from its other added features.