OTR Global report via AppleInsider reveals that Apple is working over a ‘worldmode’ iPhone which using a new hybrid chip produced by Qualcomm. This chip is designed to be compatible with CDMA2000 networks (including Verizon’s US network, which is currently incompatible with existing iPhone models) while retaining compatibility with UMTS 3G networks globally.

The new rumored iPhone will be comparatively smaller in size having 2.8 inches screen, while the current iPhone screen is 3.5 inch in size.

Thought neither of the company has supported the rumor but noticeably if iPhone comes with Verizon how is Verizon going to feature it after they had already spotlighted its shortcomings for advertising Droid with iDoesn’t… ads.

As expected Verizon iPhone will come in third quarter of 2010 after Apple completes its exclusivity with AT&T

The report also cited that the new hybrid phones will be manufactured by Asustek subsidiary Pegatron and not by the present manufacturers Hon Hai.