According to a recent AppleInsider report, citing a TechCrunch article, even though the fifth-generation iPhone - the iPhone 5 - will likely have network support for GSM and CDMA, the handset will still lack support for Verizon's new high-speed 4G LTE network.

The report is clearly a disappointing one for those iPhone aficionados who are not just eagerly awaiting a Verizon iPhone, but also one that has support for the carrier's much-raved-about 4G LTE network, instead of the existing
3G capability.

Going by the AppleInsider report, a Verizon iPhone will probably appear on the market in early 2011; with the possibility of a separate device with 4G LTE support to be offered a year later.

As per the report, Apple will not probably be in much of a hurry in terms of launching an LTE-compatible device; more so because not only are the 3G speeds still capable, but they are also satisfactory for the majority of iPhone users.

Nonetheless, another problem that Apple may have to deal with while bringing the Verizon iPhone is that the carrier's CDMA network currently incapable of handling voice and data simultaneously - a much-hyped ability of the iPhone.

However, AppleInsider is quite hopeful that the overhauled CDMA technology and a CDMA-ready Verizon iPhone might come around at the same time; thus making the Verizon iPhone one of the first handsets to sport the ability to simultaneously allow voice and data capabilities.