“AT&T doesn’t have any time to waste once it loses its exclusive right to sell the Apple iPhone. It needs to play its cards right to keep the advent of the Verizon iPhone from slowing its growth,” said an analyst.

As Verizon’s iPhone is said to have none of the glitches that are faced by existing AT&T customers, it is bound to attract AT&T’s customers, which could lead to a major damaging move for the No. 2 mobile carrier.

While there is no substantial difference in the design and internal functioning of the smartphones of both the rival firms, Verizon’s iPhone promises to offer better internet speed and connectivity that AT&T.

“The 16-gigabyte iPhone for will set you back $599 from AT&T and $649 from Verizon, and the 32-gigabyte version runs $599 and $649, respectively,” informed a close source.

The X7 would have been the first phone, to be launched exclusively with an American carrier.

Cancellation bound to hit Nokia hard
The unexpected cancellation is bound to leave Nokia much behind its competitors, in tapping the huge potential of the American market.

Apple, BlackBerry and smartphones using Google’s Android OS, are already way ahead of Nokia in American market.