Verizon Communications (VZ) will launch wireless residential broadband services over its wireless network in three of five U.S. markets next year.
The wireless carrier will use fifth-generation (5G) technology, "to provide customers with unprecedented wireless speeds for Internet access." Verizon's initial commercial launch will take place in Sacramento, Calif., during the second-half of 2018.
Verizon said that additional information, including price, would be unveiled later. Shares of the company were higher nearly 1% during mid-morning trading on Thursday.
"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," he added.
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