See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
AT&T Inc. (T) - free report >>
Verizon Communications Inc. (VZ) - free report >>
Comcast Corporation (CMCSA) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AT&T Inc. (T) - free report >>
Verizon Communications Inc. (VZ) - free report >>
Comcast Corporation (CMCSA) - free report >>
Image: Bigstock
Comcast Will Launch Mobile Phone Service in 2017
On Tuesday, Comcast Corp. (CMCSA - Free Report) CEO Brian Roberts, announced that the cable juggernaut will launch a mobile phone service sometime next year.
Mr. Roberts was speaking at the Goldman Sachs Communacopia investor’s conference, revealing that the Comcast “network” will be available by mid-2017 and that a large focus will be on Wi-Fi hotspots. Comcast’s service will operate on Verizon Communication’s (VZ - Free Report) Wireless network when away from Wi-Fi connections.
According to The Wall Street Journal, Mr. Roberts “said that because Comcast has a ‘good fair relationship’ to sell on a wholesale basis, ‘we won’t have to make the kind of investment’ needed otherwise, such as cell towers and other infrastructure.”
No pricing or other product details were announced, with Mr. Roberts saying that Comcast will target its existing customer base for its new wireless service. The cable company currently has more than 14 million Xfinity Wi-Fi hotpots throughout the United States, some of which are public (think parks or coffee shops) while others are powered by privately-owned routers in customer homes.
Comcast’s latest offering is direct competition to AT&T’s (T - Free Report) mobile service, where customers who subscribe to the DirectTV satellite service receive access to an unlimited mobile data plan from AT&T that is unavailable to other customers.
This also shows Comcast’s move to other revenue streams as pay-for cable television business stagnates across the industry. But its entering a crowded market, and the four biggest players—Verizon, AT&T, T-Mobile (TMUS - Free Report) , and Sprint (S - Free Report) —have over 100% market penetration in the U.S., according to the WSJ.
For more information on Comcast, check out the Zacks article “Your Complete Guide to Everything Owned by Comcast.”
Currently, CMCSA has a #3 (Hold) on the Zacks Rank, and has gained over 16% year-to-dat
COMCAST CORP A Price, Consensus and EPS Surprise
COMCAST CORP A Price, Consensus and EPS Surprise | COMCAST CORP A Quote
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>