When is an iPhone not an iPhone?

After locking itself into an exclusive U.S. arrangement with carrier AT&T for the iPhone, Apple has reportedly created two “non iPhone” devices for rival carrier Verizon. One is apparently a stripped down version of the iPhone while the other is a multimedia pad. And with Apple in negotiations to extend its lucrative deal with AT&T, talk of a rival firm butting into the Apple phone business could give the tech company plenty of bargaining leverage. For both Verizon and AT&T, the big sticking point is bound to be the ever-expanding apps business. Right now Apple is the exclusive provider and distributor for iPhone apps.  

BusinessWeek