The WSJ reports that, as widely expected, the iPhone 5 will support ultra-fast LTE network. But the newspaper says that, unlike with the third-generation iPad, the new iPhone will support global versions of LTE for Asia and Europe in addition to the United States. The report’s sources say that it is “unlikely” that all carriers will support the LTE feature, though.

Apple Inc.’s AAPL +0.62% next iPhone will work on the fastest wireless networks around the world—including in the U.S., Europe and Asia—though it is unlikely to be available on every carrier, people familiar with the matter said.

The technical compatibility with so-called LTE networks removes a big competitive danger for Apple and gives carriers a chance to sell their fastest data services to Apple’s huge base of iPhone customers.

We previously discussed new LTE chipsets that could be in this new iPhone which may even include support for the 600M+ subscribers on China Mobile’s network which runs TD-LTE.

The new iPhone will be announced at a press event on Wednesday September 12th at San Francisco’s Yerba Buena Center. In addition to LTE, the iPhone 5 will feature a taller, 1136 x 640 display, improved internals, a thinner design, and more. Apple’s new iPhone is codenamed N42 and will ship at the same price points at the iPhone 4S. Apple will also debutslew of refreshed iPods at its event next week.