U.S. Markets close in 2 hrs 40 mins

Verizon CEO: US 5G transition happening at high speed

Julia Limitone

The U.S. transition to 5G is happening at a faster rate than 3G and 4G, according to Verizon CEO Hans Vestberg.

The technology will give users the potential to download the full "Game of Thrones" series in seconds, he told FOX Business’ Maria Bartiromo on Wednesday.

HUAWEI PREPARING LAWSUIT AGAINST FCC AFTER US SUBSIDY BAN

An industry analysis from Ericsson Mobility Report expects 5G to have 2.6 billion subscribers "covering up to 65 percent of the world’s population" by 2025.

“Today, you can’t do that because it requires so much processing,” Vestberg said. “So that means mix realities [augmented reality, virtual reality] when you're shopping or when you do something at work.”

Verizon and Amazon Web Services (AWS) on Tuesday announced a partnership to allow developers to build super-fast, data-heavy applications. Video game publisher Bethesda Softworks and the NFL are two of the Verizon customers testing out Verizon's 5G Edge computing platform.

However, the next generation of wireless technology also comes with challenges, including capacity issues. FCC Chairman Ajit Pai is pushing for a public auction of wireless frequencies in the C-band spectrum, but Vestberg isn’t concerned.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“We have all the assets for launching to 5G,” he said.

Verizon’s 5G service is available in 18 cities and will be available in 30 cities by the end of the year, he said.

CLICK HERE TO READ MORE ON FOX BUSINESS

Related Articles