Verizon Communications Inc. reports developments across its telecommunications business, including wireless service performance, broadband connectivity, enterprise services and network technology. Company updates commonly address postpaid phone activity, customer economics, cash flow, guidance, investor conference appearances and capital markets actions involving outstanding Verizon and subsidiary notes.
News also covers Verizon's network resilience and public-safety capabilities, including Digital Twin damage modeling, satellite-enabled disaster connectivity, private 5G, fixed wireless access and broadcast solutions. Partnership and sponsorship updates describe how Verizon uses 5G, fiber and venue network design to support connected experiences for customers, businesses, broadcasters and large events.
Verizon has signed agreements with Crown Castle and SBA Communications to expedite the deployment of 5G Ultra Wideband using recently acquired C-band spectrum. The company secured 161 MHz of C-band, enhancing service delivery to an additional 250 million customers and offering choices to 50 million more for their internet providers. The agreements will streamline processes, allowing for faster installation of necessary network equipment on existing towers, critical for the company's continued growth in the competitive 5G market.
Verizon Communications has announced the redemption of approximately $713 million of 2.946% Notes due in 2022, effective May 10, 2021. The redemption price will be the greater of 100% of the principal or the present value of remaining payments discounted at the Treasury Rate plus 15 basis points, plus accrued interest. This action reflects Verizon's proactive debt management strategy and commitment to optimizing its financial structure. Shareholders and bondholders can direct inquiries regarding the redemption to U.S. Bank National Association.
On April 8, 2021, Honda and Verizon announced their collaboration to improve connected vehicle safety through 5G and mobile edge computing at the University of Michigan's Mcity. This partnership aims to enhance real-time communication between vehicles, infrastructure, and pedestrians, ultimately reducing traffic collisions. Honda's SAFE SWARM™ technology, using Cellular Vehicle-to-Everything communication, supports this initiative. The companies showcased three critical scenarios demonstrating the potential of this technology to enhance road safety, addressing issues like pedestrian visibility and emergency vehicle alerts.
Verizon Business has partnered with the Phoenix Suns to enhance fan engagement through the use of BlueJeans by Verizon. This initiative is aimed at providing a 'Second Screen' experience, allowing fans to interact more closely with the team during NBA games. The platform enables real-time interactions with features like polls and chats, improving the virtual viewing experience. With 95% of Suns fans never attending a game live, this digital strategy aims to strengthen relationships and foster brand loyalty, highlighting the importance of innovation in sports amidst changing viewer preferences.
Verizon expands 5G Home Internet service to parts of Milwaukee and Tampa as of April 8, 2021. This fast broadband option now reaches 30 markets. The service boasts max download speeds up to 1 Gbps and typical speeds of 300 Mbps, with no data limits. Pricing starts at $50 monthly for customers with a qualifying mobile plan and $70 for others. Easy self-installation and a free Stream TV device with a 12-month subscription to discovery+ are included. Verizon generated $128.3 billion in revenue in 2020.
Honda and Verizon are collaborating at Mcity to enhance road safety using 5G Ultra Wideband and Mobile Edge Compute (MEC). Their research focuses on implementing Honda SAFE SWARM™, which minimizes onboard AI needs by utilizing 5G for vehicle communication. Initial tests aim to improve road alerts for emergency vehicles, pedestrian crossings, and red light violations. This partnership seeks to leverage low-latency data transmission to prevent collisions, aiming for a future of collision-free travel.
Verizon announces the launch of the 2021 Samsung Galaxy A series smartphones, including the Galaxy A42 5G, Galaxy A12, and Galaxy A02s. The Galaxy A42 5G, available from April 8 for $399.99 or $16.66/month, features a 48 MP camera and 5G connectivity. Customers can get it for $5/month with select Unlimited plans. The Galaxy A12 and A02s will be available on April 29, priced at $179.99 and $149.99 respectively. Verizon reported revenues of $128.3 billion in 2020, emphasizing its position in technology and communications.
Verizon Fios has launched new regional Spanish-language content add-ons for customers, allowing for a personalized viewing experience. Customers can select from packages including Región Caribeña, Región Mexicana, Región Sudamericana, and Región Española, starting at $10 for the first package and $5 for additional ones. Each package offers unique channels along with shared channels across all regions. This initiative aims to cater to the diverse preferences of Spanish-speaking customers, enhancing their entertainment options on the high-speed, fiber-optic Fios network.
Verizon is expanding its 5G Ultra Wideband coverage through the deployment of signal repeaters from FRTek and SureCall. This initiative aims to enhance connectivity for 5G mobility, 5G Home, and 5G Business Internet customers. With the ability to deliver speeds up to 4 Gbps, these services facilitate seamless streaming, remote work, and immersive experiences. The repeaters will amplify signals, especially in dense urban settings, thus broadening service reach. Verizon's strategy reflects its commitment to cost-effective and efficient expansion of its network.
EvoNexus, a prominent nonprofit technology incubator in California, has partnered with Verizon Communications to foster the development of innovative 5G solutions. This collaboration aims to support early-stage startups in harnessing 5G technology for various applications. Startups in the 5G & AI program can benefit from resources like Verizon 5G Labs and Verizon Ventures.