In its first ever developer conference at San Jose, California, on Tuesday, Verizon Wireless announced its own V cast application store as a direct competitor to Apple and its App Store. The new application is expected to come out in the forth quarter of 2009.

The V cast applications store will allow developers all over the world to distribute and monetize their applications in a fast and simple way. Wireless subscribers will also benefit from the V cast store. Finding and buying new applications for their smartphones will be easier than ever.

Although it is not clear how much money Apple is making from their App Store, it is clear that it is a huge success. This is why Verizon, with its V cast application store, will have some difficulties. Some good news comes from device makers, like RIM, which have agreed to partnerships with Verizon and support their app store. “We want to make it as easy as possible for our application developers to create and monetize applications for the BlackBerry,” –Jim Balsillie, co-CEO of RIM.

“We will support our own application store worldwide and the V cast store on Verizon, so that we provide more channels for our developers. It’s real simple; for this revenue stream to carry on and thrive, the applications need to be adopted so we can drive more BlackBerry sales. And this makes the carrier a strategic partner.” – he said.

Until Verizon’s new store comes out, we can only speculate on what its success will be and how it will look like. Let’s hope it will help thousands of good developers and hundreds of thousands of wireless subscribers!