- Verizon Communications Inc VZ marked its commercially available private 5G network U.S. debut for high-speed indoor or outdoor connectivity to businesses and government departments, Reuters reports.
- Verizon has been trialing private 5G with multiple customers and has partnered with Microsoft Corp MSFT and Amazon.com Inc AMZN.
- The private 5G network will keep every cellular traffic on the customer premises to increase security. Authorized remote users can also access the applications.
- Verizon has been working with Corning Inc GLW, WeWork, Tyndall Air Force Base, and Marine Corps Air Station Miramar.
- Verizon uses Corning radios and Telefonaktiebolaget L M Ericsson ERIC core equipment for the initial deployment. It will be open to using gear from Nokia Oyj NOK and Samsung Electronics Co Ltd SSNLF in the future.
- The current networks are built on existing 4G networks to ensure backward and forward compatibility for devices.
- Verizon sees huge demand from financial institutions to increase trading flow speed using 5G, and warehouses, which are planning to use robots and autonomous vehicles.
- Several companies are also resorting to 5G to increase speeds and reposition conference rooms to permit more video calls while maintaining social distancing.
- Price action: VZ shares traded higher by 0.75% at $57.48 on the last check Thursday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.