Verizon has announced it plans to provide 175 million people with 5G Ultra Wideband by the end of 2022, much sooner than originally expected.
5G Ultra Wideband is the umbrella term Verizon uses to refer to its mmWave and C-band flavors of 5G, comprised of high-band and mid-band spectrum respectively. The company has invested billions of dollars purchasing C-band spectrum, widely considered the sweet spot for speed and range, to compliment its fastest mmWave spectrum, which has much shorter range.
The investments have paid off, with the company saying it will reach 175 million people by the end of 2022 instead of in 2023, as it originally projected.
“Through our deliberate strategy of investment and divestment we have already significantly increased the size of our addressable market which, over the next 5 years, should grow an additional $120B. We chose a strategy where we not only participate in a much larger market but also a market where we are in the leading position in our paths to growth,” said Hans Vestberg, Verizon Chairman and CEO. “Verizon’s transformative technology and Network-as-a-Service platform is what enables the 5G Economy and makes us the partner of choice for key customers and applications providers. Our high-capacity, low-latency network delivers a superior, unmatched experience that will enable all of our stakeholders to live, work and play in new and amazing ways for years to come.”