Verizon launches 5G Home
Verizon Communications (VZ) is about to become the world’s first company to launch commercial 5G (fifth-generation) broadband Internet service on October 1. Its 5G Home service will be initially rolled out in select markets in Houston, Indianapolis, Los Angeles, and Sacramento. The service will provide its customers with one of the fastest speeds, thus giving Verizon a competitive edge over its telecommunications rivals.
5G features and pricing
Verizon is giving a free introductory three-month trial of its 5G Internet and TV service to everyone in the launch areas. After that, users will be required to pay $70 per month. Existing Verizon customers will have an advantage and can use the service for $50 per month.
Verizon has also partnered with Apple and Alphabet (GOOGL) to offer its customers free YouTube TV for the first three months ($40 per month after that) and an Apple TV 4K or Google Chromecast Ultra device. The offer would enable customers to view various popular cable and local sports channels along with movies, TV shows, music, and other video content.
Verizon’s 5G service offering runs on fiber optic Ultra Wideband Network and will provide an upgrade to the speeds of all connected devices in a home. The service will have a typical speed of 300 Mbps (megabits per second), with peak speeds of nearly 1 gigabit. The game-changing move of offering gigabit-speed Internet to homes through 5G Home is expected to lay the foundation for an extensive 5G mobile network.
Race to launch 5G
Verizon’s wireless competitors AT&T (T), T-Mobile (TMUS), and Sprint (S) are also working on 5G network deployments. While AT&T has announced the limited-scale rollouts of 5G cellular service by the end of 2018, T-Mobile is looking to merge with Sprint and targeting 5G launch in the first half of 2019. According to research by Statista, 5G wireless subscriptions are projected to reach 545 million by 2022.