When The Wall Street Journal publishes an article about Apple, everybody listens. The WSJ just sent out a news alert that says that Apple is working on a new iPhone model that will be released this summer. Apple has consistently released a new iPhone on June or July since the past three models. The new iPhone is rumored to work on the CDMA wireless network, which Verizon uses. Pegatron Technology Corporation is rumored to be mass producing the device.
The iPhone was rumored to be available on the Verizon sometime in the future for years now. Apple had an exclusive relationship with AT&T within the U.S. since they launched the iPhone in 2007.
The Wall Street Journal article was written by Yukari Iwatani Kane. Kane is known for writing articles in the past that were very accurate about future Apple products. This means Kane can be trusted about having a reliable source within the company. [WSJ]