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Verizon revealed a little more Thursday its planned ultra-fast 5G network. Already offering 5G as a home Internet service in some cities in four cities, Verizon has announced plans to launch 5G mobile, capable of reaching download speeds 10 to 40 times faster than 4G LTE networks in more than 30 US cities later this year.
The announcement at a meeting with investors comes a day after Verizon announced it would be the first US operator to offer customers the next Samsung Galaxy S10 5G phone. Verizon has previously unveiled a Lenovo Motorola phone with an additional 5G module at the end of the year, as well as an Inseego mobile Wi-Fi hotspot that can capture 5G signals.
Verizon (vz) did not specify how much the new 5G mobile service would cost or which cities would get it on which dates. T-Mobile (Tmus) also announced plans to roll out the 5G mobile service in more than 30 unidentified cities later this year, but added that it would not charge any premium for faster speeds.
AT & T said its new 5G service would be available with a mobile Wi-Fi hotspot in some cities in 12 cities, including Atlanta, Dallas, and New Orleans, and another seven cities would arrive in the second half . According to Sprint (s), its 5G service using a "mobile smart hub" will also be offered at an undisclosed price in the first half of 2019 in nine cities, including Chicago, New York and Washington, D.C.
There are still several years before operators can offer 5G coverage nationwide and only a few phones should support 5G this year. Verizon's lack of specificity may not be important at this stage. Investors and badysts still do not know how much operators will spend tens of billions of dollars to upgrade their 5G networks.
The new networks should not only speed up traffic, but also reduce the cost of providing bandwidth and enable many new services, such as communications for standalone cars and virtual reality games on mobile devices.
Unlike Verizon's four-city, domestic 5G Internet service, which relies on specialized equipment designed specifically for the company, the new mobile service will be compatible with industry-standard 5G equipment, Verizon said.
Verizon shares, up 21 percent over the past year, rose 1 percent Thursday to $ 56.31.
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