Neither executive today would commit to either a usage-based pricing model or all-you-can eat option like those now offered in some wireless plans, though Sawanobori did predict that Verizon's plan will "probably be usage based."

Rinne and Sawanobori each said that LTE wireless technology will initially let users more smootly run applications for video and gaming more smoothly, and eventually support Voice over IP.

Verizon hopes to start supporting voice traffic over its LTE network in 2011 or 2012, while AT&T expects to join it in 2012. Both carriers will initially rely on their existing wireless networks for voice communications.

Verizon is hoping to convince partners to create many different devices, such as cameras and small medical devices, that can take advantage of the faster speeds available on its LTE network.

The company is encouraging small developers to test their devices on LTE technology at its new LTE Innovation Center in Waltham, Mass., Sawanobori said.