Verizon Wireless is planning to launch a new music-enabled cell phone dubbed "Chocolate" in August, and is cancelling its monthly fee of $15 for its V Cast music download service, which will increase competition with Apple's iTunes Music Store. Vast charged both a $15 monthly fee as well as $1.99 per song fee, which is double the cost of tracks on iTunes. The new phone will feature an iPod-like clickwheel that includes a memory card capable of storing up to 1,000 songs, according to the Associated Press. The new handset is manufactured by LG Electronics, and includes software that supports MP3 playback as well as the ability to play songs purchased from Verizon's own V Cast Music Store. Verizon debuted its V Cast service in early January, which analysts said would place increasing pressure on Apple's iTunes service as competitors target its shortcomings. [updated]