Verizon Expects 5G Handsets by End of Year

Verizon is prepared to keep a promise of offering 5G in three to five cities later this year, CEO Lowell McAdam said Tuesday during a call on Q4 results. Fifth-generation was on display at CES, McAdam said. “There was a lot of discussion about devices and we believe that there will be mobile [5G] devices late in 2018 and then more available as we get into 2019.” Not long ago, many questioned whether 5G would be possible before 2020-2022, he said. “Only one carrier has been consistent in its actions and messaging regarding 5G,” McAdam said. “Verizon has the spectrum bandwidth needed to provide the rich services of true 5G, our intelligent edge network capabilities and engineering know-how to lead the industry in providing the full suite of 5G gigabit services.” The carrier projected capital spending of as much as $17.8 billion this year, including the costs of the commercial launch of 5G. But the cost of deploying it is likely to be lower than initially expected, he said. McAdam said the company is testing 5G at some 200 sites: “We continue to learn every day,” with throughputs better than expected. Verizon is contacting cities that might be part of the launch, McAdam said. “I am personally out meeting with some of the mayors, talking about what we're going to be providing, and the reception has been extremely positive.” Verizon reported earnings and revenue in line with expectations. It tabulated 1.2 million retail postpaid net adds to its wireless network, including 647,000 postpaid smartphones. Postpaid churn was 1 percent. Verizon also said tax reform will boost its cash flow by $3.5 billion to $4 billion this year.