Verizon 5G Wireless Launches in Chicago, Minneapolis

Verizon (NYSE:VZ) unveiled that it is rolling out its 5G wireless service to Chicago and Minneapolis, a service that it will then release to dozens of other markets.

Verizon 5G WirelessThe New York City-based carrier said on Wednesday that it has officially turned on the gigabit-speed connectivity in the two Midwestern cities with the plan of examining how well the antenna-based service performs. Company CEO Hans Vestberg revealed to CNBC that the business plans on adding 5G to 30 additional markets later in 2019.

However, the impact of Verizon 5G wireless will be hard to gauge from a financial standpoint original, with Vestberg noting that the company will begin see its revenue impacted by the service from 2021 onwards. The move is an extension of the carrier’s current 5G Home service it released to a limited number of areas and customers in October 2018.

The option is a wireless alternative to current home internet connections, which is cable-based. However, the service does not work beyond the walls of individual homes for now. Verizon said its 5G network will offer customers peak speeds of up to 1 Gbps, roughly 10 times faster than on an LTE connection.

The service will only be added to a few phones at first as part of the test. Theoretically, 5G services could reach speeds of up to 20Gbps.

VZ stock is up about 0.3% on Wednesday afternoon.


Article printed from InvestorPlace Media, https://investorplace.com/2019/04/verizon-5g-wireless/.

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