Verizon Wireless announced in a conference call today that it will allow outside mobile handsets, applications and other devices on its network by the end of next year.

Instead of keeping its network closed, Verizon will open up the network to other companies’ applications and devices once they’ve been approved in the company’s testing lab.

Verizon is slated to publish technical standards for the development community in early 2008.

Verizon’s decision to open up its network is expected to be a boon to smaller companies and developers while also appeasing U.S. lawmakers and consumer groups who have called for wireless providers to allow outside devices and applications on their networks.