What Verizon will charge for 5G

By TechnologyFOXBusiness

Verizon CEO on what 5G means for consumers

Verizon CEO Hans Vestberg on the opportunities for growth, what 5G will mean for consumers, the telecom's cost cutting and the outlook for the U.S. economy.

Verizon will charge customers an extra $10 per month to add fifth-generation wireless service to their phones, the company said on Wednesday, setting the benchmark for other providers who have yet to disclose how much the faster service will cost consumers.

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The New York City-based carrier’s 5G service – which promises to offer broadband speeds without a hardwired connection – will launch in Chicago and Minneapolis on April 11, then expand to 30 other markets later in the year.

And on March 14, customers can order the 5G moto mod, a clip-on modem that will make the Motorola moto z3 compatible with the new network.

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“It will change the way we live, work, learn and play,” Chief Technology Officer Kyle Malady said in a statement.

Wireless providers are rushing to be the first to roll out 5G technology. AT&T has begun offering what it calls “5G Evolution,” which is actually just the 4G LTE that is used by Verizon, T-Mobile and Sprint.

Sprint is suing the company for the marketing ploy, claiming it’s an effort to “deceive consumers” and give AT&T an “unfair advantage” in the race.

TickerSecurityLastChange%Chg
VZVERIZON COMMUNICATIONS INC.58.29+0.62+1.08%
SSPRINT CORP.6.29+0.01+0.16%
TAT&T INC.31.06+0.55+1.80%
TMUST-MOBILE US INC72.26+0.20+0.28%

“This is all a precurser on how you get to 5G,” AT&T CEO Randall Stephenson previously told FOX Business. “That’s why we call it 5G Evolution — it’s an evolutionary step.”

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AT&T, Sprint and T-Mobile also all plan to introduce 5G services this year in cities across the U.S.