Verizon Wants a Bite of Apple's Apps

Cellular provider to develop its own "iTunes"

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    NEWSLETTERS

    TK
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    LONDON - OCTOBER 02: In this photo illustration an Apple iPod is held near the itunes website which is displayed on a computer screen on October 2, 2006 in London, England. The iPod is currently the world's best-selling digital audio player, with Apple having about half of the global market for MP3 player sales. (Photo by Scott Barbour/Getty Images)

    Verizon Wireless may have to wait offer the iPhone to its customers but that is not stopping the cellular giant from taking aim at another Apple product.

    On July 28, Verizon plans to preview a new software store that many analysts say is a direct shot at Apple's popular iTunes. Business Week says the nation's largest wireless carrier is heavily funding the project, which will feature apps and more available for download on Verizon smartphones.

    The move is an attempt by Verizon to slow the migration to AT&T, which holds the exclusive rights to the iPhone - the number one selling smartphone in the country. The iPhone has been popular for the variety of apps available for download and the industry is considered a boom market.

    "Juniper Research estimates sales of mobile applications could hit $25 billion in 2014, up from $5 billion this year," Business Week reported.

    The apps development industry is still considering in its early stages and is still considered up for grabs despite Apple CEO Steve Jobs claim in a press release earlier this month that "it is going to be very hard for others to catch up," to his company.

    Verizon plans to undercut Apple by making it easier and cheaper for developers to create apps for them than Apple.