Verizon Communication Inc. (
) - the largest 4G LTE operator in the U.S - announced that it
has extended its lightning fast 4G LTE services in Norwalk
Verizon Communication Inc. which is a joint venture between
Verizon Wireless and
Vodafone Group Plc.
), continue to offer its wireless service through Verizon
Wireless. At present, the company is offering its 4G LTE services
in nearly 480 markets, covering approximately 273.5 million or
89% of the total U.S. population.
Moreover, Verizon Wireless has taken an unprecedented lead in
4G LTE deployment against the largest and the third largest
wireless carrier in the country (on the basis of wireless
Sprint Nextel Corp.
), with 141 and 58 markets, respectively.
Higher proliferation of smartphones and tablets coupled with
increased HD-movie downloads continue to exert huge pressure on
networks, resulting in slower network speed. Therefore, in a bid
to boost its network speed and retain its customer base from
other competitors, the company is aggressively rolling out its 4G
LTE plans followed with launch of 4G LTE devices.
In order to improve its network service as well as well as to
tackle spectrum shortage crisis, the company is constantly
acquiring spectrum from cable and telecom operators. The company
started rolling out 4G LTE technology from 2010 with an average
capital expenditure of nearly $8.7 billion per year and also
plans to cover its entire 3G footprint by the end of 2013.
In the recently concluded quarter, Verizon added 2.2 million
retail subscribers. At the end of 2012, the company had 98.2
million retail subscribers, reflecting a 6.6% year-over-year
increase. Moreover, wireless revenue increased 9.5% year
over year to $20 billion in the fourth quarter on the back of
increased smartphone penetration and high retail post-paid
Currently, Verizon carries a Zacks Rank #3 (Hold).
SPRINT NEXTEL (S): Free Stock Analysis Report
AT&T INC (T): Free Stock Analysis Report
VODAFONE GP PLC (VOD): Free Stock Analysis
VERIZON COMM (VZ): Free Stock Analysis Report
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