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Verizon has made a series of announcements about its 5G mobile network, showing the launch dates of two cities and the pricing structure of its unlimited 5G service. The carrier plans to turn on its 5G mobile network on April 11 in Chicago and Minneapolis. Verizon subscribers on its three unlimited plans will be able to use Mobile 5G for $ 10 more per month, with the first three months free.
The service will initially be available with the Motorola z3 motorcycle smartphone, which can be upgraded to become compatible with 5G technology with a Verizon-exclusive 5G mod motorcycle accessory. Verizon is encouraging its customers to upgrade their 5G service by offering the 5G motorcycle attachment mod from 50 USD (the mod will eventually be sold 350 USD) to those with a z3 bike or buying a smartphone.
Here's what we think about Verizon's Mobile 5G game:
- Consumers are not going to easily access the service because the $ 10 premium is greater than what they are willing to pay. According to a survey by PWC, less than a third (31%) of consumers are willing to pay more for 5G mobile phones and, on average, they would be willing to pay only $ 4.40 more per month . And since Verizon already has the most expensive unlimited plans, an additional $ 10 could be too expensive for consumers to upgrade to 5G.
- But its unlimited access is attractive and is a better option than currently offered by AT & T. The AT & T 5G mobile access point used to access its 5G mobile network costs $ 70 for 15 GB However, among consumers willing to pay more for 5G mobile phones, more than half (52%) said that unlimited data guaranteed them a premium. In addition, 76% of respondents said that unlimited data was one of the most important mobile offerings that an operator could provide, according to Business Insider Intelligence's Telecom Competitive Advantage Report (enterprise only). Verizon's decision to continue to offer this essential feature for 5G access bodes well for convincing consumers to pay more.
This new brand marks Verizon's first big step forward in its wireless 5G game. Following its launch in Chicago and Minneapolis, Verizon plans to bring its 5G mobile network to 28 additional US markets by the end of the year. This ambitious enterprise will propel Verizon ahead of its competitors in providing services to a broader audience and will better enable Verizon to appeal to eager consumers in these 30 markets looking to leave the market quickly for quick access to 5G.
On average, one-third of consumers would be willing to switch to a mobile phone service provider to take advantage of 5G technology sooner, according to Business Insider Intelligence's Telecom Competitive Edge Report (enterprise only).
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