Verizon spends a whopping $45 billion for the new C-band spectrum that spans the US. The company now plans to be able to cover 100 million people within its brand new spectrum in the upcoming 12 months.
Verizon FCC 5G report
Verizon reportedly did more than double its already existing mid-band spectrum while still holding with the results of the more recent FCC 5G spectrum auction in an article by CNet on Wednesday, March 10. This was what the company noted during its recent Investor Day presentation. The company also plans to significantly increase its total capital investment by a whopping $10 billion over the course of the next three years.
CEO Hans Vestberg notes that the move is to put the new C-Band out to use as fast as possible. Verizon states that it expects to be able to cover just roughly 100 million people with the brand new C-band 5G over the course of the next 12 months. The company also reportedly plans to build yet another 14,000 millimeterWave sites through the course of the year. This would offer the ultimate 5G experience according to Matthew Ellis, Verizon CFO.
New C-Band for Verizon
According to an article by ZDNet, for the company's strategy, Vestberg noted that the addition of a brand new C-Band is still nothing sort of just rocket fuel. It also does not really appear to be enough for it to fuel Verizon ahead of its strong competitors as well.
A statement was released by T-Mobile on Wednesday noting that the company also plans to be able to cover 200 million people around the nation with their new Ultra Capactiy 5G within this year. It was noted that in addition to the ever increasing spending in order to deploy the whole spectrum, Verizon now plans for a speedy rollout by intensely focusing its initial C-Band build on a number of its existing locations.
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Verizon LTE network
Vestberg then noted that they will be good to go as soon as the company gets its first block of spectrum cleared for use some time later this year. Verizon CTO Kyle Malady noted that the company will benefit from the total density of its very own LTE network and even its strong relationship with the tower partners and the landlords. He even stated that the C-band rollout should actually be "the fastest" when it comes to the deployment of a new spectrum.
Verizon has also been able to secure 140-200 MHz of new C-Band spectrum in just about every market available achieving an average of a whopping 161 MHz all around the nation. In the initial phase of the given rollout, Verizon now expects over 20% of its very own phone base to all have 5G-capable devices, according to the executives. In the upcoming 2022 and 2023, the company will still continue to sell its new C-band 5G deployments across just over 175 million people.
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Written by Urian Buenconsejo
