Video: Verizon's iPhone 4 announcement

At a press conference in New York City, Verizon announces Apple's iPhone 4 will be available on its network in early February. A 16GB model will cost $199.

At a press conference in New York City, Verizon announces Apple's iPhone 4 will be available on its network in early February. A 16GB model will cost $199.99 with a two-year contract and the 32GB model will sell for $299.99. An extra feature Verizon will offer is the ability to use the phone as a personal Wi-Fi "hot spot." Up to five Wi-Fi devices can connect to the Verizon iPhone at one time.

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