Apple will begin producing an Verizon iPhone by the end of the year says Wall Street Journal. According to report new phone will go on sale in early 2011 and is expected to include a Qualcomm chip for Verizon’s CDMA network.

However LTE iPhone is not expected soon. According to Seattle Times Verizon won't be selling LTE phones until the middle of 2011.

A 3G CDMA iPhone is not expected to be upgradeable to LTE while LTE iPhone would be backward compatible.

Verizon has formaly announced to launch LTE in 38 major metropolitan areas, covering more than 110 million Americans, by the end of the year.