Verizon trades on the New York Stock Exchange under the ticker VZ. The company is led by Hans Vestberg and is harnessing 5G by leading the development of 5G wireless technology industry standards and the ecosystems for fixed and mobile 5G wireless services.
The company identifies 5G technology as being able to provide users with eight capabilities, known as “currencies”. Verizon’s eight currencies are: i) peak data rates of 10 gigabits per second, ii) mobile data volumes of 10 terabits per second / km2, iii) mobility of 500 km/h, iv) # of connected devices of 1 million / km2, v) energy efficiency at 10% of current consumption, vi) service deployment time of 90 minutes, vii) improved reliability of 99.999%, and viii) reduced latency of 5 milliseconds.
Verizon expects that 5G technology will provide higher throughput and lower latency than the current 4G/LTE technology and enable its networks to handle more traffic as the number of Internet-connected devices grows.
In 2018, Verizon launched a Fixed Wireless Access product known as “5G Home”, its alternative to wired home broadband. 5G Home is currently available, in 18 cities across the United States, including Anaheim, Arlington, Atlanta, Chicago, Dallas, Denver, Detroit, Houston, Indianapolis, Los Angeles, Miami, Minneapolis, Phoenix, Sacramento, Saint Paul, San Francisco, San Jose, and St. Louis.
Verizon also launched its 5G Ultra Wideband Network in 31 United States cities in 2019, as well as several 5G-compatible smartphones. As of the end of 2020, the company had expanded its 5G Ultra Wideband network, to 61 United States cities.