Verizon Communications VZ has announced that Honeywell HON and General Motors GM will be among the first business customers to experience its 5G Ultra Wideband service inside their offices. Initial deployments will take place at Honeywell’s new corporate headquarters in Charlotte, NC, and General Motors’ Factory Zero at the Detroit-Hamtramck Assembly Center.
The New York-based telecom giant has been building its 5G Ultra Wideband network to enable innovations that will support the changing behavior of businesses and consumers. Verizon’s 5G network enables throughput at least 25 times faster than current 4G networks. The network is expected to eventually enable 100 times larger data volumes than 4G. The service is available in parts of 55 cities. Verizon’s 5G Nationwide covers more than 200 million people in above 1,800 cities.
The 5G Ultra Wideband network supports a range of business and industrial applications. It uses a millimeter-wave spectrum and is designed to deliver significantly faster download speed and greater bandwidth compared with 4G. Verizon’s 5G mobility service offers an unparalleled experience that impacts industries as diverse as public safety, healthcare, retail and sports.
The two industry-leading companies will work with Verizon to develop customized use cases. Honeywell is installing Verizon’s 5G Ultra Wideband inside its headquarters. This will be used in its Innovation Center and Executive Leadership floor. General Motors’ recently unveiled Factory ZERO is an all-electric vehicle assembly plant. The facility will utilize Verizon’s 5G Ultra Wideband network and other cutting-edge technologies.
Aimed at driving major digital transformation, indoor 5G Ultra Wideband installations are an important step in the process of delivering a private 5G solution. Verizon’s disciplined network strategy for long-term growth, along with operational execution, is noteworthy. By the end of this year, the company aims to launch 5G Ultra Wideband in more than 60 cities.
Further, Verizon has been offering Apple AAPL 5G iPhone to bring more capabilities to customers with its 5G Ultra Wideband and Nationwide networks. Customers could get the iPhone 12 lineup, including iPhone 12 Pro, iPhone 12 Pro Max, iPhone 12 and iPhone 12 mini.
The companies have now introduced ‘5G Fleet Swap’. This is a program that allows customers to trade-in their smartphones, whether or not from Verizon, and upgrade to any model in the iPhone 12 lineup for zero upfront cost. Business customers using iPhone 12 on Verizon’s 5G Ultra Wideband network will have the potential to unlock new experiences.
Verizon’s shares have gained 11.6% in the past six months compared with 14.4% growth of the industry.
Verizon currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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