According to a recent Verizon news release (March 2021),* Verizon Wireless will more than double its existing mid-band spectrum holdings in the near future. By delivering 5G Ultra Wideband performance on C-Band spectrum, Verizon expects to have incremental 5G bandwidth available to 100 million people in the next 12 months.
The increased mobility and broadband offerings are the result of an FCC C-Band auction. Verizon won between 140 and 200 megahertz of C-Band spectrum in every available market for just under $53 billion.
Hans Vestberg, Chairman and CEO of Verizon, expressed his appreciation for the win* by stating, “Today is one of the most significant days in our 20-year history. This was a highly successful auction for Verizon – a once in a lifetime opportunity – and I am thrilled with what we were able to accomplish.”
Vestberg discussed Verizon’s acceleration strategy and plans to use the strong spectrum position to continue to drive growth. “Our growth model is based on a clear vision: We are a multi-purpose network company with the best networks architected by the best engineers on the planet,” said Vestberg. “This idea of a multi-purpose network at scale is our strategic foundation to maximize growth and put us in a position to realize the best return on investment in the fully-networked economy.”
He emphasized Verizon’s competitive advantage by saying, “Since we began building 5G, we have had a first mover advantage. We are more than a year ahead in building and selling mmWave with our 5G Ultra Wideband service and still the only company with commercial Mobile Edge Compute… We are the only carrier suited to deploy the fastest, most powerful 5G experience to the most people – or as we call it, 5G built right.”
Increased 5G mobility network coverage
Over 2022 and 2023, coverage is expected to increase to more than 175 million people. Once the remaining C-Band is cleared, more than 250 million people are expected to have access to Verizon’s 5G Ultra Wideband service on C-Band spectrum.
More than 70% of the 5G devices in the hands of customers today are C-Band compatible. Every iPhone 12 model is C-Band compatible. The Samsung Galaxy S21 series and Google Pixel 5 are also compatible. Verizon hopes to offer more than 20 C-Band compatible devices by the end of the year.
Verizon 5G broadband strategy
The acquisition of C-Band spectrum is a critical component of Verizon’s 5G broadband strategy for 5G Home and 5G Business Internet.
5G Business Internet complements the full suite of Verizon Business tools and offerings, including OneTalk voice communications, BlueJeans by Verizon video-collaboration platform, advanced security and other Verizon business services.
Business customers can access the broadband speeds they need with the reliability they’ve come to expect from Verizon. 5G Business Internet is now available in three markets on mmWave with plans to bring the product to 20 more by the end of 2021.
Accelerate 5G Edge
Verizon Business is well positioned to capture a significant amount of edge compute share. By the end of 2022, the total edge compute addressable market in the U.S. is estimated to reach $1 billion, and by 2025, rapid adoption of Edge Compute is estimated to create a $10 billion addressable marketplace.
Get ready for a better network for better business solutions.
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*Verizon “Safe Harbor” Statement from linked press release: “In this presentation we have made forward-looking statements. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Forward looking statements include the information concerning our possible or assumed future results of operations. Forward-looking statements also include those preceded or followed by the words “anticipates,” “believes,” “estimates,” “expects,” “hopes,” “forecasts,” “plans” or similar expressions. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The following important factors, along with those discussed in our filings with the Securities and Exchange Commission (the “SEC”), could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: cyber attacks impacting our networks or systems and any resulting financial or reputational impact; natural disasters, terrorist attacks or acts of war or significant litigation and any resulting financial or reputational impact; the impact of the COVID-19 pandemic on our operations, our employees and the ways in which our customers use our networks and other products and services; disruption of our key suppliers’ or vendors’ provisioning of products or services, including as a result of the COVID-19 pandemic; material adverse changes in labor matters and any resulting financial or operational impact; the effects of competition in the markets in which we operate; failure to take advantage of developments in technology and address changes in consumer demand; performance issues or delays in the deployment of our 5G network resulting in significant costs or a reduction in the anticipated benefits of the enhancement to our networks; the inability to implement our business strategy; adverse conditions in the U.S. and international economies; changes in the regulatory environment in which we operate, including any increase in restrictions on our ability to operate our networks or businesses; our high level of indebtedness; an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing; significant increases in benefit plan costs or lower investment returns on plan assets; changes in tax laws or treaties, or in their interpretation; and changes in accounting assumptions that regulatory agencies, including the SEC, may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings.”
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