Verizon Communications Inc. (NYSE:VZ) shares went up over 0.80% during late trading hours. The stock jumped after the company disclosed that it had launched LTE Advanced technology to allow over 50% faster peak wireless data speeds for more than 288 million people in 461 cities from coast to coast.
The new service reaches all major cities and covers many areas that were not previously covered, such as interstates, country road, highways, and rural America. This will allow customers to be mobile and not stay at one position for higher speed connections.
Head of Operations for Verizon’s wireless unit, Tami Erwin, stated that the customers had received a big improvement with no additional cost paid. He said that the new LTE was superfast, with speed boosts when the user needs it the most, along with bigger data usage.
The new service is available with one of the 39 LTE Advanced capable phones and tablets. Customers that possess such devices or have updated to the most recent software may benefit from these improvements for no cost at all.
LTE Advanced uses software to merger two or three bandwidth channels into a singular and larger channel that sends data sessions over the most efficient route to completion. This technology is known as carrier aggregation and it combines 700 MHz, AWS, and PCS spectrum.
Normally, customers experience download speeds of 5-12 Mbps, but two-channel carrier aggregation has reached peaks of almost 225 Mbps, which exceeds all other speeds shown by wireless data networks nationwide. However, Verizon’s new LTE Advanced uses three-channel carrier aggregation, which provides even more speed. Its engineers who deployed the aggregation expect speeds to go beyond 300 Mbps.
This is not the first time Verizon has pioneered a wireless technology. In 2003, it was the first wireless company to launch 3G and brought the service coast to coast by 2005. In 2010, it introduced its customers to 4G LTE. With LTE Advanced, the company has done it again and introduced a never-before top wireless service.
So far this year, VZ stock has gained over 12% of its value. As of 1:08 PM EDT, it is up 0.77% at $52.48.