iPhone with both GSM and CDMA

Technically it’s been done, but the Verizon model lacks a SIM card. That would be easy to add (provided space) in a more general and operator independent model.

There’s some guesswork on the part of CNN, as it’s also a matter of policy and operator acceptance, but technically it would be easy to do.

Apple poised to make ‘universal’ iPhone, says analyst – CNN.com