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Verizon (VZ) Unveils Innovative Smartphone Management Solution

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Verizon Communications Inc. (VZ - Free Report) recently introduced a comprehensive smartphone management solution primarily designed to support organizations that frequently operate outside a traditional office setting. This end-to-end solution includes the whole device cycle management from shipping, setup, repair, replacement and more.

The integrated Verizon MDM (Mobile device management) facilitates efficient management, tracking and controlling of mobile devices by IT administrators. The devices come with optional insurance covering loss, theft, and damage, with same-day replacement and unlimited cracked screen repairs, depending on the location and inventory. Additionally, the service offers an upgrade option for each device every 24 months.

Supported by Verizon’s ultra-fast and reliable 5G network, the service includes 24/7 assistance to promptly address issues, minimize device downtime and enhance employee productivity. Offered on a month-to-month basis, this flexible solution enables businesses to add or remove devices as needed without long-term commitments.

A recent study shows an emerging trend of companies shifting toward employer-provided devices (EPDs) from the “bring your own device” approach. The EPD business model will allow the companies to undertake better security measures and simplify IT tasks, policy enforcement and troubleshooting.

However, these positives come at a hefty expense. The financial commitment to delivering and maintaining a fleet of smartphones can be substantial. With the increasing digital transformation across industries, IT teams are already burdened with various tasks encompassing generative AI integration to boost cybersecurity. Device management of enterprises’ entire workforce will add considerable strain on existing IT infrastructure.

Verizon’s latest smartphone management solution effectively addresses these issues. It alleviates the pressure on IT teams and eliminates the need for substantial upfront capital investment, empowering businesses to focus on other strategic priorities. The solution is particularly a game changer for midsize businesses, as it will allow them to scale operations in response to evolving demand with ease.

Verizon has witnessed a decline in its Business segment in the past few quarters. Its capability to recognize emerging market trends and a customer-oriented approach will likely bolster its prospects in the upcoming quarters.

With one of the most efficient wireless networks in the United States, Verizon continues to deploy the latest technologies to deliver faster peak data speeds and capacity for customers, driven by customer-focused planning, disciplined engineering and constant strategic investment.

Verizon’s 5G mobility service offers an unmatched experience that impacts industries as diverse as public safety, health care, retail and sports. The company’s 5G network hinges on three fundamental drivers to deliver the full potential of next-generation wireless technology. These include massive spectrum holdings, particularly in the millimeter-wave bands for faster data transfer, end-to-end deep fiber resources and the ability to deploy a large number of small cells.

The stock has gained 12.3% over the past year compared with the industry’s growth of 20%.

Zacks Investment Research
Image Source: Zacks Investment Research

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

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