Lowell McAdam, Verizon's chief operating officer, made the announcement in New York with Apple COO Tim Cook. Apple issued its press release on the Verizon iPhone at 11:11 a.m. EST on Jan. 11, 2011, or 1/11/11.
"Today, we are extremely gratified and I can't think of a better word, to announce that early next month, the iPhone 4 will be a part of the great Verizon Wireless portfolio of products," McAdam said.
Sales will begin on Feb. 10 for the general public, with pre-orders starting on Feb. 3 for existing Verizon customers.
The arrival of the Verizon iPhone has been long expected.
After the announcement, AT&T released a statement: "For iPhone users who want the fastest speeds, the ability to talk and use apps at the same time, and unsurpassed global coverage, the only choice is AT&T."
If AT&T subscribers want to switch before their contract is up, they will be facing an early termination fee up to $325. They will also have to buy a new phone.
The Associated Press contributed to this story.