Hot on the heels of Sprint’s announcement of the HTC Arrive comes word that Verizon Wireless is about to unveil its first Windows Phone 7 device, the HTC 7 Trophy.  WinRumors is reporting that its sources say Verizon could announce the phone as early as next week with a release sometime around March 20.

We’ve long known Verizon Wireless would launch a Windows Phone 7 device early this year, so this rumor way well be true.  And it makes sense for Verizon to launch its first phone powered by Microsoft’s new mobile OS at roughly the same time as Sprint.  A recent update to Windows Phone 7 makes it compatible with CDMA networks.

WinRumors says the HTC 7 Trophy will cost $200.