NEW UPDATE 09-12-2012
Verizon will be carrying the iPhone on it’s LTE network which is multitasking GSM, but the iPhone 5 will not be able to take advantage of it.
This post still applies even though all iPhones will be dual mode, GSM and CDMA, Verizon will not carry the iPhone on it’s LTE network which would be multitasking GSM.
The Scoop or Poop
Okay, the big stink is that the Verizon iPhone can’t multitask between voice and data because of the CDMA network that Verizon uses. There have been a lot of Verizon people or users of Droids that have come to the defense of Verizon to say “Wait! Not True, AT&T is lying.” But the truth is that no phone, Droid or otherwise can do voice and data at the same time on a CDMA network.
Here is why we are hearing these people say they are doing voice and data at the same time: WIFI Hotspot
If you are at a WIFI Hotspot or somewhere that you are connected to a wireless network you will be able to do both at the same time. The internet/data is through the WIFI, whereas the voice is through the CDMA connection. That isn’t multitasking, that is separate channels for each task you are doing. If you lose the WIFI and are strictly on the CDMA you will lose the data connection when your phone accepts a call, no questions asked you drop off the internet or app you are using to let the network send you the call. Since you are not going to be in a WIFI Hotspot all the time, you are not going to be able to multitask with voice and data.
So, the bottom line is that no phone on the Verizon CDMA 3G network can do voice and data at the same time.