Aiming to get a jump on the rest of the industry, Verizon (NYSE:VZ) plans to launch wireless residential broadband services in three to five U.S. markets in 2018 based on pre-standard 5G wireless technology. 5G standards do not yet exist, but are expected next year, with standards-based deployments expected around 2020.
5G promises speeds in the 10 Gbps to 20 Gbps range; pre-standard trials have achieved throughput of 1 Gbps to 4 Gbps. Potential services include residential broadband, Internet of Things (IoT) applications, fixed wireless and others.
Verizon's first commercial launch is planned to be in Sacramento in the second half of 2018. Details of that launch, and the announcement of additional markets, will be provided at a later date.
Verizon says it has successfully trialed pre-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.
Verizon estimates the market opportunity for initial 5G residential broadband services to be approximately 30 million households nationwide.
"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 CTO. "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."