Verizon Launches Commercial Private 5G In US: Reuters

Verizon Communications Inc VZ marked its commercially available private 5G network U.S. debut for high-speed indoor or outdoor connectivity to businesses and government departments, Reuters reports.
Verizon has been trialing private 5G with multiple customers and has partnered with Microsoft Corp MSFT and Amazon.com Inc AMZN.
The private 5G network will keep every cellular traffic on the customer premises to increase security. Authorized remote users can also access the applications.
Verizon has been working with Corning Inc GLW, WeWork, Tyndall Air Force Base, and Marine Corps Air Station Miramar.
Verizon uses Corning radios and Telefonaktiebolaget L M Ericsson ERIC core equipment for the initial deployment. It will be open to using gear from Nokia Oyj NOK and Samsung Electronics Co Ltd SSNLF in the future.
The current networks are built on existing 4G networks to ensure backward and forward compatibility for devices.
Verizon sees huge demand from financial institutions to increase trading flow speed using 5G, and warehouses, which are planning to use robots and autonomous vehicles.
Several companies are also resorting to 5G to increase speeds and reposition conference rooms to permit more video calls while maintaining social distancing.
Price action: VZ shares traded higher by 0.75% at $57.48 on the last check Thursday.