I noticed that too (that the phone supports both CDMA and GSM). I did not think that was even possible.
Anything is possible. They're just radios. You already have like 5 in your phone right now.
2g
3g
possibly 4g
GPS (receive only)
bluetooth
Wifi
possibly NFC
Some folks also have infrared but I think thats mostly on Laptops. And its not radio anyway. But it is a form of electromagnetic radiation and it does transmit and receive.
The reason they ship phones in America with limited bands is the carriers want absolute control over their product, which is also the reason for locking them to one service, even though CDMA is used by two carriers and GSM is used by two carries and you should be able to hop back and forth between them at your discretion.
In fact thats part of the reason Verizon and Sprint both decided to forgo SIM's in their 3g phones. They wanted to to have to bring the device itself in for actual programming rather than just using whatever you wanted. With 4g either they were required by policy to go back to SIM's, or the market demands made them do it against their will.
Europe doesnt have that problem. Corporations are bloodthirsty yes, but not controlling. They let you hop back and forth at your discretion and dont give you shit. And the hardware that sells there is normally multi-band.