Verizon (VZ) announces users can start using 5G mobile service in 2 U.S. cities

NYSE: VZ | Verizon Communications Inc. Common Stock News, Ratings, and Charts

VZ – Verizon Communications Inc said on Wednesday its customers in Chicago and Minneapolis would be able to use its 5th generation wireless network from April 11.

(Reuters) – Verizon Communications Inc said on Wednesday its customers in Chicago and Minneapolis would be able to use its fifth generation wireless network from April 11 by paying $10 per month with any of its unlimited mobile plans.

5G, the next-generation wireless network, is expected to offer data speeds up to 50 or 100 times faster than 4G networks.

Verizon said its customers will need a Motorola Z3 mobile and a device called 5G moto mod to connect to the 5G network.

The largest U.S. wireless carrier by subscribers will offer the device for $50 initially and its customers would not have to pay for 5G use for the first three months.

Verizon launched its first commercial 5G service in October when its 5G Home offering went live in Houston, Indianapolis, Los Angeles and Sacramento.

While Verizon is leading the charge to test its 5G services, industry analysts say the higher-speed networks are unlikely to be widely available until the middle of the next decade.

Rivals AT&T Corp and Sprint Corp are also building their own 5G networks and plan to release 5G smartphones with Samsung Electronics later this year.

(Reporting by Supantha Mukherjee in Bengaluru; Editing by Shailesh Kuber)


Verizon Communications Inc. shares were trading at $57.41 per share on Wednesday morning, down $0.02 (-0.03%). Year-to-date, VZ has gained 3.18%, versus a 12.59% rise in the benchmark S&P 500 index during the same period.

VZ currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #1 of 26 stocks in the Telecom – Domestic category.


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