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Verizon Unveils ThingSpace Ready to Enhance IoT Solutions

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Verizon Communications Inc. (VZ - Free Report) has announced the launch of ThingSpace Ready, a new program on its IoT platform — ThingSpace. The program, backed by Verizon’s robust and reliable network, includes a set of services intended to make it easier for device developers to build and manage devices on the network more cost-effectively.

Move to Secure the Future of ThingSpace

ThingSpace Ready will allow developers to acquire more reasonably-priced wireless modules, hardware design services and IoT SIMs. This will be made possible by new partnership with Bittium, G+D Mobile Security, Mobilogix, Quectel, Sequans, u-blox and other yet-to-be-announced partner companies. These companies specialize in secure connectivity solutions and other data and device protecting software.

ThingSpace Ready will operate on Verizon’s 4G LTE CATM1 network, a technology specially devised for IoT by the company along with partnering giants like Sequans, U-Blox, Altair, Nokia, Ericsson, and Gemalto. This technology was released nationwide by Verizon in 2017. The major focus of this program lies in making device developments and IoT solutions more affordable. The company remains focused on continuously modifying the ThingSpace platform supported by important partnership and services to make it easier to develop and launch cellular enabled IoT solutions in the marketplace.

Last month, Verizon launched new Virtual Network Services Solution Bundles to streamline the virtualization process and remove some of its barriers. The company has completed all network compatibility testing and licensing with all these bundles, providing peace of mind while saving both time and labor. Additionally, Verizon’s end-to-end orchestration and closed loop service assurance allows customers to essentially “point and click” to enable software-defined networking solutions.

With such continued product launches, Verizon has performed impressively in the past 12 months. This wireless network operator has outperformed the industry on an average, with a return of 6.8% against a decline of 10% for the latter, in this period. The company generated a whopping $126 billion in revenues in 2017, driven by remarkable customer growth following an increased customer advertising.

Zacks Rank and Stocks to Consider

Verizon currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry space are BlackBerry Limited (BB - Free Report) , TIM Participacoes S.A. (TSU - Free Report) and PLDT Inc. (PHI - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

BlackBerry has an expected long-term earnings growth rate of 18.6%.

TIM has an expected long-term earnings growth rate of 32.9%.

PLDT has an expected long-term earnings growth rate of 15%.

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