Today is the day many Verizon wireless customers have been waiting for: the company announced that its customers will soon be able to buy an iPhone. Many analysts say Verizon could this year sell more iPhones in the U.S. than AT&T, who had been the exclusive iPhone carrier until now.

But will Verizon actually make money on the venture? We look at iPhones' expanding universe with Peter Burrows, technology reporter for Bloomberg News.