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 Business announced the launch of IoT Managed Services aimed at assisting customers in deploying and managing IoT solutions. This service caters to companies lacking the necessary staff and resources. With various service levels, it offers support from cellular connectivity to complete lifecycle management. Verizon's dedicated IoT specialists will help businesses overcome the challenges associated with IoT implementation, promoting efficiency in asset monitoring and management.
The service aims to set a foundation for future technology advancements, including integration with Verizon's 5G network.
Verizon Business has launched On Site LTE, a secure, private wireless network for enterprise customers in the US. This offering aims to enhance digital transformation and operational efficiency for businesses. The On Site LTE platform supports critical applications and services, providing low-latency connectivity and reliability for various digital initiatives, including robotics and AI. Additionally, it is designed to pave the way for future 5G innovations.
Verizon expands its 5G service, now reaching an additional 24 million customers in Central Texas, Tulsa, Upstate New York, and New England, totaling 230 million people across over 2,700 cities. This expansion includes access to 5G Ultra Wideband in parts of Tampa, St. Petersburg, Albuquerque, and Durham, enhancing performance for both individual and enterprise customers. Verizon's 5G offerings leverage advanced technologies like Dynamic Spectrum Sharing and Carrier Aggregation, promising peak speeds of 4 Gbps and improved cloud-native network capabilities for enhanced service delivery.
Verizon Media and Entain have announced a global alliance to innovate in interactive sports and entertainment. This partnership will create a unique virtual reality experience for live sports that integrates data, social interaction, and gaming. With the rise of 5G and immersive technologies, they aim to enhance consumer engagement in sports betting and live events. New research indicates significant consumer demand for interactive experiences, particularly among men aged 25-39. This initiative builds on existing collaborations, including BetMGM within Yahoo Sports, to strengthen their market presence.
On December 16, 2020, Verizon Business announced a strategic multi-year partnership with Walgreens Boots Alliance to enhance customer experiences at over 9,000 retail locations. The initiative involves deploying Verizon's Network as a Service (NaaS), integrating LTE, 5G, and Verizon Media. This collaboration is designed to support Walgreens' digital transformation efforts and future technological innovations. Verizon's NaaS aims to provide on-demand solutions that accelerate digital changes, enabling retailers to adapt quickly to evolving customer needs.
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Verizon and Corning have launched the first commercial indoor 5G cell sites, transitioning from proof of concept to scalable solutions. This deployment aims to extend the reach of Verizon's 5G Ultra Wideband network and enable private 5G networks for enterprises. WeWork has signed a contract for installations in ten US locations, enhancing flexible work environments. The indoor cell sites will provide high-speed connectivity, supporting digital transformation and improving operational efficiency for businesses.
Verizon Business has partnered with Fiserv to offer the Clover point-of-sale platform to its customers. This collaboration allows small businesses to access touchless payment solutions, improving service efficiency amidst COVID-19 regulations. Verizon customers can utilize Clover Flex devices embedded with Verizon SIM cards for reliable payment processing. Clover has over one million devices globally and processes more than $130 billion annually. This partnership reflects Verizon's commitment to empower small businesses with modern technology.
Verizon CFO Matt Ellis will speak at the Barclays Global TMT Conference on December 10, 2020, at 8 a.m. ET. His presentation will be available via webcast on Verizon’s Investor Relations website. Established on June 30, 2000, Verizon is a leading provider of technology and communications services, generating $131.9 billion in revenue in 2019. Celebrating 20 years in operation, Verizon offers solutions in data, video, and voice, emphasizing mobility and reliable network connectivity. For more details, visit Verizon's Online Media Center.
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