VZ 41.45 (+1.62%)
US92343V1044Telecommunication ServicesTelecom Services

Last update on 2024-03-05

Verizon Communications (VZ) Explained

An Overview of VZ: Its Business Strategy, Core Products, Major Competitors, and Essential Insights into its Role in the Telecom Services Industry

Verizon is primarily a wireless business (nearly 80% of revenue and nearly all operating income). It serves about 93 million postpaid and 23 million prepaid phone customers (following the acquisition of Tracfone) via its nationwide network, making it the largest U.S. wireless carrier. Fixed-line telecom operations include local networks in the Northeast, which reach about 25 million homes and businesses, and nationwide enterprise services.

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Current Business Strategy

Verizon Communications (VZ) focuses on leveraging its network superiority to deliver innovative communication, information, and entertainment solutions. The company invests heavily in 5G technology to drive growth in both its consumer and business segments. Key strategies include expanding its 5G Ultra Wideband, 5G Home, and 5G Business Internet footprints, enhancing customer experiences through digital transformation, and exploring new market opportunities in areas such as IoT, MEC (Mobile Edge Compute), and broadband.

Most known Products

Here is the list of the 5 most well-known products of Verizon Communications (VZ):

  • Verizon Wireless Services: Wireless communication services offering voice, data, and messaging across the United States, known for its extensive 4G LTE network and rapidly expanding 5G network.
  • Fios Internet: Fiber-optic internet service providing high-speed internet access to consumers and businesses, known for its fast upload and download speeds.
  • Fios TV: Fiber-optic television service that offers a wide range of live TV channels, on-demand video content, and digital DVR services.
  • Verizon Business Services: A comprehensive suite of services including networking, cloud, security, and IoT solutions tailored for business customers to help them improve productivity and operational efficiency.
  • Verizon Visible: A digital-only mobile phone service that offers unlimited data, messages, and minutes on Verizon’s 4G LTE and 5G networks, aiming to provide a simple and affordable wireless experience.

Competitors

Here is the list of the main 5 competitors of Verizon Communications (VZ):

  • T: AT&T Inc. is a direct competitor in both the wireless and wireline markets, providing similar services such as mobile communications, broadband, and pay TV services across the United States.
  • TMUS: T-Mobile US, Inc. competes in the wireless industry, known for its aggressive marketing and pricing strategies, along with rapid 5G network expansion efforts, challenging Verizon's market share.
  • CHTR: Charter Communications, Inc. is a competitor in the broadband and cable services market through its Spectrum brand, offering internet, TV, and voice services to both residential and business customers.
  • CMCSA: Comcast Corporation competes with Verizon primarily in the broadband, cable TV, and home phone service markets, with a significant footprint and a similar suite of products and services.
  • DISH: DISH Network Corporation presents competition mainly in the wireless spectrum and satellite TV services areas, increasingly moving into the wireless market which poses a growing threat to Verizon's wireless segment.

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