This is something going on for at least 4 weeks now, and it is pretty annoying if you ask me. When the phone is in 3G mode it is 13 minutes late (actual time is 6:40pm, time switches to 6:27). Now imagine your wake up alarm is set, or you get notified late about an appointment in your calendar, you do the math.
I own a 2 months old RAZR M. People at work with different Verizon phones experience this too, at least I've heard of two of them. Text messages get the wrong time stamp, and looking in your phone list when you received a call might also show a wrong time. Quite frankly, I don't trust the alarm anymore (which I use a lot when traveling).
Are there other people with the same experience, and what could cause this? This issue should go on Verizon's priority list. I've read similar issues online with iPhones, as far back as 2009.
And just in case, I made a video of this wayward phoneclock which appears to be a Verizon network issue.
Let's see what happens.