As announced, the Verizon iPhone is based on CDMA. The current GSM-based iPhone allows for both Data and Voice simultaneously. CDMA, in its current state, cannot replicate this feature of GSM. This means that you cannot talk and be surfing the web at the same time.
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It’s not just that tethering and hotspot will not work. Absolutely NO data will work while on a phone call. No apps can be sending or receiving data while on a phone call. This means no Email, no Twitter, no Pandora and no tethering while on a phone call.
Few people seemed to care that much when the original iPhone had the same limitation.
Even fewer people complain that every single non-LTE Android and RIM device on Verizon has the same limitation. It never bothered me on the Droid, and I’m sure it won’t bug me on my new iPhone — especially since I spend so much time in places with Wi-Fi networks in place.
As @MacfusionGirl pointed out on Twitter, this may be a bigger deal to AT&T customers looking to jump ship.