updated 12:00 pm EST, Thu February 10, 2011
Affects only phones based on 4.2.5
Apple has reportedly begun widely distributing iOS 4.2.6, a minor firmware update. The release only impacts the Verizon iPhone 4, formally launched today. It may also be redundant in many cases, as a number of Verizon iPhones have been shipping with v4.2.6 pre-installed instead of v4.2.5.
The latest firmware fixes only a problem with the personal hotspot feature, used to tether other devices through Wi-Fi. In some instances v4.2.5 was misreporting hotspot data usage, Apple notes. The issue is particularly critical since Verizon plans only allow for 2GB of tethered traffic a month. All other data use is unlimited.