Verizon's first commercial launch is planned to be in Sacramento, California in the second half of 2018. Details of that launch, and the announcement of additional markets, will be provided at a later date.
Verizon has successfully trialed 5G residential applications in 11 markets in 2017. The commercial launch is based on customer experience and on Verizon's confidence in new technology powered by millimeter-wave spectrum. The company estimates the market opportunity for initial 5G residential broadband services to be approximately 30 million households nationwide.
As 5G continues to evolve, customers will benefit from a wide array of services – including broadband, mobile and IoT (Internet of things) – and the necessary bandwidth and low latency for 3D and virtual reality applications.
The 5G commercial launch will not have a material impact on Verizon's consolidated capital expenditures in 2018 and the full-year 2018 capital spending program is expected to be consistent with the past several years.
"This is a landmark announcement for customers and investors who have been waiting for the 5G future to become a reality," said Hans Vestberg, Verizon president of Global Networks and Chief Technology Officer. "We appreciate our strong ecosystem partners for their passion and technological support in helping us drive forward with 5G industry standards, for both fixed and mobile applications. The targeted initial launches we are announcing today will provide a strong framework for accelerating 5G's future deployment on the global standards."