Reports: Verizon Planning iPhone Killer

Verizon Wireless is plotting a response to AT&T's widely-anticipated Apple iPhone offering, according to published reports.

Apple unveiled iPhone at the Macworld conference in January. It features a 3.5-inch, 160 dot-per-inch color screen, a 2 megapixel digital camera and a touchscreen Apple calls "Multitouch," which is designed to enhance accuracy by ignoring unintended touches.

IPhone is 11.6 millimeters thick -- thinner than typical smartphones, according to Apple CEO Steve Jobs.

AT&T has exclusive rights to offer iPhone for five years. It will be available from the carrier next month.

Verizon Wireless' counter is the LG Prada, or KE850, according to TheStreet.com. Prada is a sleek handset similar in look to the iPhone, the Web site reports. It includes a camera, and can play music and videos and allow for document viewing.

IPhone will cost US$500 while Prada is expected to retail for around $600. The offering is seen as key for Verizon Wireless to attempt to stem the tide of customers to iPhone and AT&T.

Verizon Wireless was not immediately available for comment. USA Today recently quoted Verizon COO Denny Strigl stating that the carrier will have a response to iPhone by late summer.