3798232047_000f71007e_m It’s coming, it’s finally coming! After nearly two years of rumors swirling, the illustrious iPhone is coming to the Verizon network.

Verizon phone owners can now rejoice and it’s expected that people will begin camping outside of Verizon Wireless to get their hands on the first ever Verizon iPhone, despite the fact the phone will not be released until Feb 18th.

But questions now loom for AT&T. Will Verizon's iPhone announcement bring AT&T to their knees? The Verizon network touts superior service and fewer dropped calls then its competitor. So now with the iPhone heading to its rival's network, this would mean the downfall of AT&T, right?

Not exactly.

While many current AT&T customers may consider switching to Verizon, this may be a blessing in disguise for those loyal AT&T users. Analysts from the Yankee Group estimate that approximately 2.5 million AT&T users may jump ship to Verizon as a result of AT&T’s over taxed network. This number represents only three percent of AT&T's 93 million customers. At the same token, these iPhone users are those who use the majority of AT&T’s wireless data. The migration of these users to Verizon would theoretically be free up the network for the several other million iPhone users.

But when the dust settles and the hype dies down, questions will rise for Verizon. Will their network be able to handle the 13.2 million users that are projected to buy a Verizon iPhone? How will Verizon’s CDMA hardware keep up with the supposedly faster AT&T, GSM hardware system?

So should AT&T be worried? No, not yet at least. How about Verizon Blackberry users? Should RIM be worried? Well, that’s a whole other blog post!

Contributed by Katie Gardner. Follow her @kgardner200

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