Well, we know that iPhone 5 is a hot topic these days and there are so many Rumors around it. But thanks to the Chief Financial Officer Fran Shammo by Reuters, who cleared the Network Plans and Hardware Details of the next generation iPhone; iPhone 5 in an interview.

So let’s take a look at the details which he provided in his interview. First of all we’ll take a look at hardware details-

Hardware Details- Shammo said that Apple’s next hardware; iPhone 5 would take place on both carriers simultaneously. It means that the hybrid chip would be installed and activated for use on both network technologies. Another good news for Verizon users is that the AT&T customers are unlikely to use the CDMA modem. This makes it easier for Apple in manufacturing only one handset and controlling the hybrid modem with software.

Network Plans- According to Fran Shammo, the days of the unlimited data plan are now numbered, and the company is planning to offer tiered plans. Currently AT&T is offering two types of data plans: 250 MB for $15 bucks per month and 2 GB for $25. Tethering ups the limit to 4 GB but costs an extra $20. So the total goes around $45 a month. So Verizon may also reveal some similar prices for data plans of iPhone 5.

During this interview, Fran Shammo refused to comment on whether or not the iPhone 5 would support Verizon’s LTE network. He leaved the subject to Apple saying that if Apple allows so, then it may happen.