Verizon Wireless has built up anticipation as to what they would be revealing at their special 1/11/11 announcement, but it seems speculation and rumors were right on target.

The wireless giant announced today that it would begin offering the Apple iPhone in February on its service. This will mark the end of AT&T having exclusive rights to the popular smartphone.

Verizon will begin taking pre-orders for the new phone on February 3 and will have them available for sale publicly on February 10.

The new Verizon iPhone will be a version of the Apple iPhone 4 that is designed to run on the Verizon network. Users can purchase the 16 gigabyte model for $199.99 with a two year contract or the 32 gigabyte model for $299.99 with a two year contract.