Verizon Communications Inc. (VZ - Free Report) has taken a giant step forward to gain a competitive advantage against rivals as it announced plans to launch the world’s first commercial 5G broadband Internet service in select markets on Oct 1, 2018. Dubbed Verizon 5G Home, the service is up for registration beginning tomorrow and consumers can avail ‘First On 5G’ membership by visiting FirstOn5G.com website.
The service will be initially available in select regions in Houston, Indianapolis, Los Angeles and Sacramento. Existing Verizon customers in these places would get an opportunity to avail the service by paying $50 a month for the 5G Internet and TV service after a three-month free trial. Other customers will be required to pay $70 a month for the service after the introductory free trial period of three months.
Verizon 5G Home service is built on the world’s first and only 5G Ultra Wideband Network, offering typical network speeds around 300 Mbps and peak speeds of nearly 1 Gbps with no data caps. It combines end-to-end fiber network with a large deployment of small cells for improved connectivity and millimeter wave bandwidth to realize the full 5G potential for capacity, throughput and latency. It is ideal for cord-cutting consumers and those who are looking to upgrade their current cable service.
Customers availing Verizon 5G Home service will also get free YouTube TV for the first three months ($40/month thereafter) and a free Apple TV 4K or Google Chromecast Ultra device at installation. This would enable customers to enjoy various popular cable and local sports channels along with movies, TV shows, songs and other enriching video content.
In addition to early access to 5G Home service, ‘First On 5G’ members would get professional installation and set-up of all Wi-Fi- devices, free router and router upgrades along with the first-mover advantage to purchase new 5G mobile devices with dedicated support services as and when they are available.
Over the past three years, Verizon has systematically invested in 5G technology to gain a foothold in the industry. With the latest manoeuvres, the company intends to augment its position in the market and outsmart competitive pressure.
The stock has recorded an average return of 15.8% in the past year while the industry has declined 0.9%.
Verizon currently has a Zacks Rank #3 (Hold). Some top-ranked stocks from the same space are United States Cellular Corporation (USM - Free Report) , Windstream Holdings, Inc. (WIN - Free Report) and Telenav, Inc. (TNAV - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
United States Cellular Corporation has a long-term earnings growth expectation of 1%. It exceeded the Zacks Consensus Estimate thrice in the trailing four quarters with an average positive earnings surprise of 303.6%.
Windstream Holdings exceeded the Zacks Consensus Estimate twice in the trailing four quarters with an average positive earnings surprise of 23.5%.
Telenav outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering a positive average earnings surprise of 3.7%.
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