Last month Verizon and Qualcomm announced an unnamed Joint Venture that sought to create business in untapped B2B markets with a unique strategy. Today they have announced the joint venture will be called nPhase, taking on a name originally chosen by Qualcomm in 2002. The implications of this partnership could be far reaching for all those involved.

Usually when we think of wireless service we think of devices with service plans which we pay for monthly: cell phones, cable TV, cable internet and the like. But twist your POV for a second. Think about devices that have chips embedded (Qualcomm) and connect to wireless networks (Verizonb Wireless) but for which you never pay a dime. For example, think of the Amazon Kindle.

The Kindle connects to various wireless networks to download ebooks, magazines, newspapers and other publications but you pay only for the products you purchase – not the service itself. Now take that concept – of devices that can “phone home” to improve their functionality and that is partially the angle Verizon and Qualcomm will take with nPhase.

How about a digital photo frame that downloads/syncs pictures from your facebook albums automatically? What about machines or factory equipment that transmit data reports and analysis over the network, removing the need for employees to visit on-site reporting locations? The opportunities reach from consumer to business and everything in between and the potential for growth is huge.

Check out the full Press Release below… we’ll keep you posted on details:

nPhase Selected as Name for Qualcomm and Verizon Wireless Joint Venture to Provide Advanced M2M Solutions

Board of Directors Announced

SAN DIEGO – August 20, 2009 – The new joint venture between Verizon Wireless and Qualcomm Incorporated (Nasdaq: QCOM), announced at the Smart Services Leadership Summit on July 28, 2009, was named today – nPhase – and formally became an operational company. The joint venture draws the nPhase name from the original Chicago-based machine-to-machine (M2M) pioneer launched in 2003 as a start-up focused on providing customized M2M communications solutions to meet the unique needs of OEM clients.

The new nPhase will be led by original founder and CEO Steve Pazol, who will serve as the company president. Pazol most recently served as the vice president and general manager of the acquired nPhase group, which was renamed Qualcomm Global Smart Services.

“When we originally selected the name nPhase back in 2002, we knew this industry would be constantly changing and evolving, and we felt the name nPhase communicated this concept,” said Steve Pazol president of nPhase. “We have been very fortunate to have been a part of Qualcomm for the last three years. Now with a 50/50 joint venture between Verizon Wireless and Qualcomm, we look forward to providing M2M wireless communication and smart service offerings to this rapidly growing market.”

nPhase’s management team includes a combination of original nPhase founding executives, former Qualcomm executives, and a Verizon Wireless executive. The company’s Board of Directors includes:

* Steve Pazol, president, nPhase
* Len Lauer, chief operating officer, Qualcomm
* Jack Plating, chief operating officer, Verizon Wireless
* Andrew Gilbert, executive vice president and president, QIS and Europe, Qualcomm
* Anthony Lewis, vice president, Open Development, Verizon Wireless

For more information, go to www.nphase.com. Check back frequently as this exciting new business will be undergoing rapid change and development in the weeks and months to come.

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About Verizon Wireless
Verizon Wireless operates the nation’s most reliable and largest wireless voice and data network, serving more than 87.7 million customers. Headquartered in Basking Ridge, N.J., with more than 87,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE and LSE: VOD). For more information, visit www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.

About Qualcomm
Qualcomm Incorporated (Nasdaq: QCOM) is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., Qualcomm is included in the S&P 100 Index, the S&P 500 Index and is a 2009 FORTUNE 500® company. For more information, please visit www.qualcomm.com.

About nPhase
nPhase, a 50/50 joint venture between Qualcomm and Verizon Wireless, provides advanced M2M wireless communications and smart services offerings across a wide variety of market segments, including healthcare, manufacturing, utilities, distribution, and consumer products. This new company leverages the global leadership in advanced connectivity technologies provided by Qualcomm and the world’s largest and most reliable 3G network provided by Verizon Wireless to deliver the most reliable end-to-end M2M solutions with the best coverage globally. nPhase headquarters are located at 5355 Mira Sorrento Place, Suite 100, San Diego, CA, 92121. For more information visit www.nphase.com.

Good to see Verizon diversifying. The world is changing and lateral movement is smart. At a time like now its never been safer for tech companies to take risks – in fact, its survival.