In a note to investors this week analyst Doug Reid of Thomas Weisel Partners said that despite persistent rumours that Verizon will receive the iPhone in 2010 when AT&T’s exclusive agreement runs out he believes that T-Mobile will instead be the chosen carrier.

Reid’s thoughts come off analysing the carriers different advertising campaigns, “AT&T advertising in the United States has in recent weeks clearly shifted away from iPhone as the carrier likely readies itself to lose exclusivity in the United States (to T-Mobile and not to VZ, we believe) while VZ ads promoting Droid and other anti-iPhone devices appear to have intensified markedly”.

Rumours earlier in 2009 suggested that AT&T was looking to extend its exclusive contract—which expires sometime in 2010—through to 2011 but such suggestions died off around the middle of the year.

Reid added that Verizon could pick up the iPhone in 2011 when its 4G network is more established.

T-Mobile would be an easier target for the iPhone than Verizon as it will already be able to work on T-Mobile’s GSM network but will be unable to access thaw 3G portion of the network as the iPhone is only compatible with 850MHz, 1900MHz and 2100MHz bands where as T-Mobile operates on 1700MHz.