Verizon iPhone 4 owners, welcome to the App Store! On the heels of the carrier’s own free My Verizon Mobile and VZ Transfer apps released last week, GPS developer TeleNav has announced that Verizon customers will be getting their own “Big Red” flavor navigation in the style of the AT&T Navigator app.

TUAW is reporting that TeleNav GPS will soon be releasing a Verizon Wireless-specific navigation app, similar to their current AT&T Navigator offering. Like the AT&T version, the app will be free to download from the App Store and use for the first 30 days, then you’ll pay $2.99 per month or $21.99 per year.

“As with many navigation apps for the iPhone, TeleNav GPS for the Verizon iPhone provides spoken turn-by-turn directions with street names as well as 2D or 3D moving maps,” TUAW explains. “The app updates routes if you miss a turn or a street is closed, and map updates are automatic.”

Perhaps the most notable thing about the Verizon TeleNav GPS app is the price -- the AT&T-branded version is considerably more expensive at $9.99 per month ($69.99 per year). It will be interesting to see if AT&T bows to the pricing pressure and drops their price as well, since the carriers thus far seem to be matching each other in most other ways.

Verizon’s TeleNav GPS isn’t available just yet, but is expected shortly after the iPhone 4 arrives in their stores on Thursday, February 10. In the meantime, you can check out the promo video embedded below and then go sign up on their website to be notified when it’s actually available.

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(Image and video courtesy of TUAW)