
Folks at 9to5mac and iFixyouri have performed Verizon iPhone 4 teardown that reveals Qualcomm MDM6600 chip inside which is compatible for GSM and CDMA technology.
Either Verizon iPhone does not have SIM slot so does not support GSM but this is a sign that probably the iPhone 5 will have the compatibility for both networks at the same time.
Check out the full CDMA iPhone teardown video below to know further about its internal.