Verizon Communications Inc. VZ recently announced that it has deployed the much-acclaimed 5G Ultra Wideband network service in six U.S. cities — Miami, FL; Salt Lake City, UT; Grand Rapids, MI; Charlotte and Greensboro, NC; and Spokane, WA. Notably, 5G network was already available in 22 cities prior to the launch.
The service boasts high throughput, low-latency and enhanced network coverage. The network will be mainly focused on areas such as Warnersville Recreation Center, Old Peck Park and Bennett College, to name a few. The telecom behemoth is planning to deploy its avant-garde network in two more cities by the end of 2019, thereby reaching its target of 30.
The 5G Ultra Wideband network depends on three essential factors to deliver the full potential of 5G technology. These include massive spectrum holdings, particularly in the millimeter wave bands for faster data transfer, end-to-end deep fiber resources and the ability to deploy large number of small cells.
With seven devices in its line-up to provide 5G service, Verizon claims to deliver Internet speeds of up to 1.5Gbps. Its 5G Ultra Wideband network will provide ultra-fast Wi-Fi with unparalleled bandwidth for interactive gaming, real-time connectivity, seamless 4K video streaming, flash loading and uninterrupted video chatting with drastically reduced lag time.
Few days back, Verizon collaborated with The Walt Disney Studios StudioLAB and ILMxLAB in order to explore how 5G Ultra Wideband network can transform live entertainment experiences. It also collaborated with Amazon Web Services to deploy low latency applications in mobile devices using 5G and became the first telecom carrier in the world to offer such service. Moreover, in order to drive fan engagement across stadiums, Verizon had collaborated with Sony Corporation SNE to boost live sports viewing experience by leveraging its 5G Ultra Wideband network. Recently, it became the first U.S. carrier to deploy the much-acclaimed 5G Ultra Wideband service at Newport News Shipbuilding in Newport News, VA. These instances are a testament to Verizon’s efforts in reinforcing reliable and secured 5G connectivity with an agile network infrastructure.
With the intensifying 5G race, Verizon is seeking competitive edge in a saturated and price-sensitive market, which includes major players like AT&T Inc. T and T-Mobile US, Inc. TMUS. The company’s move to deploy nationwide 5G Ultra Wideband network ensures faster data speed and capacity for customers, driven by customer-focused planning, disciplined engineering and constant strategic investments.
Verizon has long-term earnings growth expectation of 3.2%. Driven by healthy momentum in the wireless business, the stock has gained 10.4% compared with the industry’s growth of 19.9% in the year-to-date period.
Verizon currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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