Peter Svensson for AP:

Verizon Wireless said Monday that it won’t prevent its version of the iPhone 5 from being used on AT&T’s network.

This marks the first time Verizon has sold a phone that will work on other U.S. networks without it needing to be unlocked.

What it means for consumers is that if you buy an iPhone 5 from Verizon today and decide when your contract is up to switch providers to, say, AT&T, you can continue to use the same phone without having to jump through hoops to get it to work.