Verizon Launches Commercial Private 5G In US: Reuters

  • 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 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.
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