The wireless division of Verizon Communications (VZ) recently upgraded its fourth generation (4G) Long Term Evolution (LTE) network coverage in six regions of New England in the U.S., namely, North Smithfield, Gilford, New Hampshire, Truro, Massachusetts and Rhode Island. The service will offer Verizon customers 10 times faster data speeds than 3G customers on compatible devices.
In order to improve the wireless network infrastructure across New England, Verizon Wireless has already invested nearly $178.8 million in the first half of 2014. Also, the company has expended nearly $3.73 billion since the start of the network deployment plan in 2000.
In Nov 2011, Verizon Wireless rolled out its first 4GLTE network in Rhode Island. Post the deployment, the company is positioned as one of the leading 4G LTE network operators in the U.S. covering a population of over 305 million across nearly 500 markets in the country.
Verizon Communications boasts a strong foothold in the U.S. wireless market and expects growth from higher penetration of 4G LTE services and devices. The extensive reach of the company will not only help it gain market traction but will also lend it an competitive advantage over peers like AT&T, Inc. (T), Sprint Corporation (S) and T-Mobile US, Inc. (TMUS).
Such aggressive 4GLTE network deployment coupled with enhanced data speeds have helped the company boost subscriber growth in the second quarter of 2014 and also achieve the second lowest churn rate in the country of 0.94%, just 8 basis point above that of AT&T.
Verizon currently carries a Zacks Rank #2 (Buy).
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