Name: Verizon CEO Hans Vestberg on upcoming 5G technology
Uploaded: 2020-11-11
Duration: 7 min 20 s
Description: Vestberg discusses Verizon's plan for nationwide implementation.

[MUSIC PLAYING] SUSIE GHARIB: Hans, thank you so much for joining us, and congratulations for being selected as the keynote speaker at the Consumer Electronics Show in January. This is going to be the first time it's all-virtual, so you're going to have a huge global audience. And I'm sure that one of the big topics is going to be about the future of 5G, fifth-generation super-fast technology. So what are you going to tell them? What's your key message? HANS VESTBURG: First of all, thank you very much for having me. I think at first, we'll continue to talk about how transformative the 5G technology is compared to any previous technology or wireless. And then briefly, we're saying that 2G to 4G was basically about speed and throughput improving all the time, from text message to actually full video review on your phone. And 5G has actually eight capabilities, not only two. It has the size of how many connected devices at the same time. It has an extremely low latency. It has many other features that are actually going to transform industries quite a lot. Of course, consumers are going to get a lot of new applications. But in general, it's also very much for industries and society 5G, which is, I think, very transformative. SUSIE GHARIB: You know, 2020 was supposed to be all about 5G. We started off the year with a lot of hoopla. But because of a variety of issues, including the coronavirus pandemic, there's been many delays on a roll out of a true 5G nationwide network. What's your playbook at Verizon? HANS VESTBURG: I'm not sure I agree with you. At 2010, when we were sitting down and designing 5G in my previous company, our time plans was actually the first sort of immediate step would be 2020. We're actually ahead of the game on 5G with basically two years-- the whole industry. And as you might know, Verizon already has launched the 5G mobility. We have launched our second service, which is 5G home. And we've also known as our third service, which is 5G mobile age compute, which is basically bringing the cloud out to the edge of the 5G network. I think when people think about 5G, they think about consumer solutions, and that's absolutely right. But one thing we need to think about here in the United States is that the level of iPhones in this market is so high, and sort of the openness of switching between operating systems is low. So that means that I think consumers will feel it when Apple has a 5G iPhone. But the networks are already built. I mean, we are building according to plan this year, and the previous years as well. So it's more about the consumer side of it, and the device that has a high market share in this market. SUSIE GHARIB: Well, everyone, including you a moment ago, talking about how 5G will transform our lives, whether it's a faster download of a movie on Netflix, or telemedicine, or tele-education, things like that. But in order to have those breakthroughs, I believe we have to have a nationwide 5G network, just not in various cities. Without getting too technical, Hans, what is Verizon doing to make that happen? HANS VESTBURG: No, have already to committed this year we're going to have a nationwide 5G. We're going to have more than 60 cities on what we call the ultra wideband, which is speeds up to 2, 3, 4 gigabits per second on the phone, which is enormous. It's just 20X to what you have with 4G today. So that we will have this year. And what I've told the market is that when the appropriate moment is to launch that nationwide commercial-wise, we're going to do it. So we are ready with it. The team has done a terrific job to prepare ourselves. But again, we think about the right moment. And they're probably going to come the right moment soon in the future. SUSIE GHARIB: Well, talk to us a little bit about the timing on it. Do you see that happening in 2021? HANS VESTBURG: 2020. We're going to have that 2020. SUSIE GHARIB: And how crucial is it? Will you be providing a complete telecom infrastructure? How crucial is that? HANS VESTBURG: No, first of all, remember, when it comes to networks, we have the best 4G network in the world, or in the United States. And that's what our customers are expecting. They're expecting that as we go into the new technology, they're going to have a transformative experience. And that's what we're building, and that's why we are building what we call 5G ultra wideband in all of dense urban areas, stadiums, urban centers, et cetera. But we're also going to go nationwide. And we use different type of spectrums here, not to be too technical. And that's what we're going to do. And we're going to launch that this year. And the cities are already launched, and we're launching cities as we speak. SUSIE GHARIB: Well, how are you going to compete against companies like T-Mobile-- now that Sprint is part of the organization-- and also AT&T, that we understand have better coverage when it comes to 5G across the country? HANS VESTBURG: And again, I think that some of these 5Gs coming out actually are inferior to our 4G. We want to do something that is transformative, and that's why we decided from the beginning, we're going to build it right. We're going to do something transformative. That's why we have launched so far 35 cities with the ultra wideband. We're doubling the capacity in those cities. And we're going to have it nationwide later this year. And we're just going to wait for the right moment where my commercial side thinks is a good time to launch it. I think we have a great opportunity to continue to lead this market and compete. SUSIE GHARIB: People have been talking a lot about having at 5G phone, as you know, and there's been a lot of marketing hype about Apple coming out with a 5G iPhone maybe in October. Will Verizon be selling that phone? HANS VESTBURG: I think that if Apple will come out with a 5G phone, Verizon will of course sell it. But I think it's a hypothetical question, and it's a question I cannot answer. SUSIE GHARIB: OK, well, if there is a 5G iPhone-- if it really happens in October, and Apple rolls it out-- how significant would that be to Verizon in terms of revenues and business growth? HANS VESTBURG: I think it's going to be significant. I said in the beginning, the US market has a very high market share of iPhone users. And as we have seen in the recent past years, people are not changing sort of in-between operating systems. That means that if you want to go on the 5G bandwagon, and you are an iOS user, you wait for that 5G iPhone. The same goes with Android users as well. So that's why it's significant for the US market. It might be very different in other markets where iPhone is not the biggest market share, and where Android is far more important when it comes to 4G and 5G. So it's different from market to market. But definitely, in the United States, the iOS and the iPhone has the high market share, and that goes for Verizon as well. 

Vestberg discusses Verizon's plan for nationwide implementation.

Verizon CEO Hans Vestberg on upcoming 5G technology

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Vestberg on Verizon's plan for nationwide implementation.