Verizon Expanding 5G Home Service to Minneapolis, Saint Paul
Verizon Communications Inc. VZ is launching 5G Home Internet in Minneapolis and Saint Paul, bringing the much acclaimed service to eight cities. This service is currently available in select areas of Chicago, Detroit, Sacramento, Los Angeles, Houston and Indianapolis. The telecom giant intends to cover at least 10 cities by the end of 2020.
Featuring a newly designed hardware, the device comes with a self-setup that uses augmented reality. This makes it an even more compelling choice, particularly for those who are working from home or powering a smart home. Verizon has been building its 5G Ultra Wideband network to enable innovations that will support the changing behavior of customers.
The industry-leading network uses a millimeter-wave spectrum and is designed to deliver significantly faster download speed and greater bandwidth compared to 4G. Verizon’s latest 5G Home hardware is a first-to-market MMwave 5G customer-premises equipment router. The new 5G Internet Gateway enables consumers to experience maximum download speed of up to 1 Gbps, with a typical speed of 300 Mbps.
The expansion of 5G Home Internet to new markets with upgraded hardware is likely to provide subscribers with more digital experiences. Verizon’s 5G mobility service offers an unparalleled experience that impacts industries as diverse as public safety, health care, retail and sports. The company’s disciplined network strategy for long-term growth combined with operational execution is noteworthy.
Verizon is promulgating 5G mobile networks by using virtualized machines, advanced levels of automation and adaptability. As it continues to expand mobile and home coverage across the country, customers will benefit from greater flexibility and faster delivery of services.
Meanwhile, Verizon completed the world’s first end-to-end fully virtualized 5G data session in a live network. This has enabled the company to respond to customers’ latency and computing needs by providing the base for mobile edge computing and network slicing.
The company is well positioned to capitalize on ample growth opportunities while underplaying competition from T-Mobile TMUS, AT&T T and U.S. Cellular USM. Its focus on upgrading the network will enhance the speed and performance for better customer experiences. The latest service enhancement is one such example.
The stock has added 10.3% in the past six months compared with 15.3% growth of the industry.
Verizon carries a Zacks Rank #3 (Hold), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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