In an attempt to offer some potential competition to Apple's much-awaited iPhone 4 on AT&T, Verizon Wireless Wednesday introduced the Droid X handset, Motorola's latest Android-based smartphone.

Going the Verizon announcement, the Motorola Droid X will go on sale July 15. The handset will cost $200, after a $100 rebate to customers signing Verizon's two-year contract.

In addition, though Verizon intends following AT&T's suite in eliminating unlimited data plans, it will still retain its $29.99-per-month unlimited-data-download service to entice new subscribers to the Droid X handset.

Pitted against the Apple iPhone 4, coming soon on the exclusive US iPhone carrier AT&T, the Droid X boasts some impressive features like a 4.3 inch touch-screen; an 8 megapixel camera; a new faster 1 GHz processor from Texas Instruments; HDMI; the latest version of Adobe Flashplayer 10.1; and 8GB built-in storage, expandable up to 40GB with a memory card.

Furthermore, the Droid X also allows users to rent and purchase movies - at $19 and $4 respectively - from Blockbuster Inc, to be watched on the handset via the Wi-Fi network.

Noting that Motorola expects the Droid X to attract a good number of customers, in spite of the hype that the iPhone 4 has generated, Motorola Co-CEO Sanjay Jha said in an interview: "There's a meaningful amount of traction we can get through the summer period."