With AT&T’s (NYSE: T) exclusivity contract with the Apple’s iPhone (Nasdaq: AAPL) expiring soon, the news is out (again) that Verizon (NYSE: VZ) will launch an iPhone early next year. The latest rumors, however, include the icing on the cake — Verizon will offer the phone on its 4G LTE network.

A reliable source says that Verizon will be rolling out it 4G LTE network in selected cities later this year, which syncs up nicely with the rumors. On the other hand, coverage is not scheduled to reach 66-percent in the US until 2012.

Analysts are speculating that AT&T iPhone sales will stall and buyers currently in the market will postpone making a decision until the news is official, now that iPhone mania is here to stay. But is it?

According to a recent report from Admob (Nasdaq: GOOG) , Android-based phones accounted for 42 percent of online traffic here in the US, with iPhones at a 44 percent market share. Not a huge difference. And sales of Android-based phones are exploding, according to the same report.

Verizon recently offered a two-day promotion for a free Motorola (NYSE: MOT) Droid phone for new subscribers, perhaps as a marketing test case. Sorry for those who missed out. It’s a slick smartphone at an unbeatable price.

Playing the waiting game for the iPhone on Verizon’s 4G LTE network may not be your best option. Until the iPhone offering on Verizon’s 4G LTE network is a real deal, you could get lucky and have a free Droid to play with and then upgrade later if you so choose. That’s a good deal all around.

Disclosure: No positions.

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