Even though there are number of reports which indicate that Verizon iPhone exits but there is no official confirmation of the existence of the product.  Verizon iPhone dominates the smartphone market since Apple came up with first iPhone. However, Apple never launched the one.

Many iPhone lovers were hoping that Apple will unveil Verizon iPhone during the recent Apple event, even though the event of dedicated to Mac OS X powered devices. Apple unveiled MacBook Air, Mac OS X Lion, FaceTime for Mac and iPhone App Store for Mac during the event.

So the real question is why Verizon iPhone rules the smartphone market even without its existence? iPhone is the most popular smartphone in the U.S. Similarly, Verizon is considered as one of the most reliable wireless networks.  Many Verizon Customers think that they can’t leave their wireless carrier because of its reliability. However, they love iPhone and all they can do is to hope that iPhone comes to Verizon.

According to major news outlets including including Wall Street Journal and Bloomberg, Apple is planning to release Verizon iPhone or iPhone CDMA in the first quarter of 2011.