Telecom majors Nokia and Verizon Communications have teamed up to develop a touchscreen device for the upcoming 4G LTE Network.

The tie-up, which is along the same lines as AT&T and Apple’s liaison, would prove profitable to both the parties as it could sling Nokia back in the US market, where its market share has almost fizzled out and for Verizon, the Nokia device would help it challenge AT&T''s iPhone with a new handset to exploit its new high-speed network.

As for Nokia, the move represents a significant deviation, away from its earlier track record of staying away from U.S. telcos who have attempted to control the features of its phones. This is considered to be the very reason for Nokia’s failure at gaining market slice in the US.