Verizon Wireless (nyse: VZ), made an announcement this morning that could represent a turning point in wireless. The company said that starting at the end of 2008, it will allow its customers to use phones and software not sold by Verizon.

Why would the company announce such a thing? Typically, the wireless carriers, concerned with protecting the value of their networks as well as the relationships they have with customers, have kept a tight control over the phones that they make available on their networks. Customers can only buy the phones made available by their carrier and they are restricted to the software loaded onto those phones.

One reason: The fast growing wireless sector is being hit by new, innovative entrants. Google (nasdaq: GOOG), for instance, recently announced a plan to create an open platform for mobile phones. If Verizon did nothing, its business could, ultimately, be severely hampered. But Verizon is an astute company and is keenly aware of the market in which it operates and the threats that stand to attack its business plan. So Verizon has made a bold move and now says it will make its technical standards available to developers in the first part of 2008 and then open up its network at the end of the year so that consumers can buy phones and use software that is compatible with the network.

To put this a bit more in perspective, all wireless carriers have recently been under pressure to open up their networks from regulators as well as from new competitors such as Google. But besides the pressure to open up networks, the move is also a good way for Verizon to increase traffic over its network. Increasingly, there are more devices that are being sold that are wirelessly enabled — from Internet tablets to digital cameras. Many of these are products that Verizon doesn’t now sell and could provide substantial revenues in the future.

Another good reason for opening up its networks: If Verizon can get more software developers to create for it’s networks, that means that it can also sell more data plans – which is where wireless companies will ultimately be generating most of their revenues.

Good news for Verizon.