NEW YORK (Reuters) – Verizon Communications Inc
The company said on Wednesday it had successfully tested its 5G broadband service in 11 markets this year and that its first commercial launch was planned for Sacramento, California, in the second half of 2018. 5G is expected to offer faster speeds and response times, and higher capacity.
Both Verizon and rival AT&T Inc
Verizon shares were up 2.1 percent at $50.96.
The service, called fixed wireless, is considered to be the first application of 5G technology and could eventually be a competitor to the high-speed Internet services offered by cable companies. Verizon said it estimates the market opportunity for initial 5G residential broadband services to be about 30 million households nationwide.
Shares of cable companies Charter Communications Inc
(Reporting by Anjali Athavaley; Editing by Bernadette Baum)