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Verizon Wireless (VZ - Analyst Report), the largest U.S. mobile service provider, is set to launch the HTC One, on Aug 22, 2013. The launch will mark the end of a long wait for Verizon customers to lay their hands on the flagship device of Taiwanese handset manufacturer HTC.

The device will be available at $199.99 with a two-year contract for Verizon customers. The smartphone is incorporated with Android’s latest 4.1 Jelly Bean operating platform and will run on Verizon’s expanded LTE (Long Term Evolution) network.

HTC One, which is one of HTC’s most successful products, features a 4.7 inch 1080p HD touchscreen and a 4 megapixel camera along with image stabilization feature. The smartphone is integrated with a 1.7 GHz quad-core processor, 2GB ram and offers a 16 or 32 GB internal memory option.

The HTC One launch will succeed Verizon’s launch of Motorola’s Droid Ultra and MAXX, while Droid Mini will debut on Aug 29, 2013. However, AT&T Inc. (T - Analyst Report), Sprint Corporation (S - Analyst Report) and T-Mobile US Inc. (TMUS - Snapshot Report) have already launched HTC One five months back.

Verizon Communications Inc. (VZ - Analyst Report), the majority shareholder of Verizon Wireless, registered one million retail customers based on a strong post-paid segment in its second quarter. Nevertheless, the company’s total retail churn deteriorated 12 basis points to 1.23.

The smartphone release will offer a wider variety of Android-based devices for Verizon Wireless customers. However, the delay in the launch increases competition for the company against rival carriers and smartphone manufacturers.

Verizon’s HTC One launch will be closely followed by rival AT&T’s launch of Moto Xon on Aug 23. In addition to competition from Galaxy S4, HTC One’s competitive scenario will intensify once Apple launches its latest iPhone on Sep 10.

Verizon currently carries a Zacks Rank #3 (Hold).

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