Doubling of speeds expected in six months
As FierceWireless has reported, Verizon (VZ) is planning to double the speeds available through its residential 5G service known as Verizon 5G Home. Verizon 5G Home currently delivers regular speeds of 300 Mbps and peak speeds of 1 Gbp. Verizon has sought to promote its 5G Home service as ideal for cord-cutters, suggesting the company is aiming to take customers from cable broadband providers with its residential 5G service.
Considering that some cable providers like Charter Communications (CHTR) are planning to increase their own broadband speeds, doubling the speeds of 5G Home could help Verizon maintain the service as a competitive alternative to cable broadband. The doubling of Verizon 5G Home speeds is expected to happen in the next six months.
50% of 5G Home subscribers weren’t Verizon customers before
The Verizon 5G Home service arrived on October 1 and has rolled out in Houston, Indianapolis, Los Angeles, and Sacramento. Existing Verizon customers in these four cities can sign up for the 5G Home service for $50 a month, while new customers are charged $70 a month. According to Verizon, as much as 50% of 5G Home subscribers weren’t previously customers.
Reaching 30 million households
Verizon is aiming to reach 30 million households with its 5G Home service in the United States over an unspecified period. The company closed the third quarter with 154 million wireless customers. AT&T (T), T-Mobile (TMUS), and Sprint (S) exited the third quarter with 150 million, 77.2 million, and 53.5 million wireless subscribers, respectively.