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Verizon (VZ), Deloitte to Offer Smart Factory Solutions for Firms

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Verizon (VZ - Free Report) has joined forces with Deloitte to expand 5G and mobile edge computing (MEC) solutions that are believed to disrupt almost every sector, particularly manufacturing and retail. The telecom giant is focused on aligning with enterprises, universities and government to explore how next-generation technologies can transform the way in which organizations operate.

The companies intend to deliver game-changing solutions that can serve customer-specific requirements. These solutions will use Deloitte’s business transformation expertise along with Verizon’s advanced wireless and MEC technology. To that end, they are developing a smart factory solution at Verizon’s Customer Technology Center in Richardson, TX.

This solution will utilize sensor-based detection alongside MEC, Software Defined-Wide Area Network and VNS Application Edge capabilities to identify and predict quality defects on the assembly line. It will automatically alert plant engineering and management in near real-time.

Moreover, the companies will introduce an integrated network and application edge compute environment for application functionality that will help improve the overall plant efficiency. The cutting-edge solutions are expected to close the gap between digital business operations and legacy manufacturing environments.

5G networks are poised to play an imperative role in the digital transformation of businesses. Verizon continues to lead the industry with its much-acclaimed 5G Ultra Wideband. The company operates six 5G Labs in the United States and one in London that specializes in developing use cases in industries ranging from healthcare to public safety to entertainment.

Verizon has built its 5G Ultra Wideband network to enable innovations that will support the changing behavior of customers. The network supports a wide range of business and industrial applications. It uses a millimeter-wave spectrum and has been designed to deliver significantly faster download speed and greater bandwidth compared with 4G.

The 5G network enables throughput at least 25 times faster than current 4G networks. It is expected to eventually enable 100 times larger data volumes than 4G with ultra-low latency. Verizon’s disciplined network strategy for long-term sustainable growth, along with operational execution, is noteworthy.

The stock has gained 8.3% in the past six months compared with 10.1% growth of the industry.

Verizon currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader industry are Plantronics , United States Cellular (USM - Free Report) and NIC , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Plantronics delivered a trailing four-quarter positive earnings surprise of 568.2%, on average.

U.S. Cellular delivered a trailing four-quarter positive earnings surprise of 231.1%, on average.

NIC delivered a trailing four-quarter positive earnings surprise of 27.5%, on average. The company’s earnings beat the Zacks Consensus Estimate in two of the last four quarters.

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