Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Verizon Communications : GE adds Verizon 5G to Testbed to explore Energy, Health Care and Aviation use cases

04/29/2021 | 09:01am EDT

What you Need to Know:

  • Verizon installs 5G Ultra Wideband network at GE’s Lab on its Niskayuna, NY campus
  • GE researchers eyeing a broad array of applications, including remote patient monitoring, wireless, real-time control of wind farms and predictive maintenance of connected aircraft engines 
  • 5G Ultra Wideband offers reliability, peak throughputs at least 10x faster than 4G, and ultra-low latency for providing near instantaneous response time   

NISKAYUNA, N.Y. and BASKING RIDGE, N.J., April 29, 2021 (GLOBE NEWSWIRE) -- Signaling the dawn of a new era for smart industrial machines and systems, GE Research, the technology development arm of the General Electric Company (GE), is collaborating with Verizon Business to create a cross industry testbed powered by Verizon 5G Ultra Wideband.

Vic Abate, GE’s Chief Technology Officer, said “Together with Verizon, we are leading the way in innovating on 5G. It marks a pivotal moment for the industrial world, as we finally have a wireless network platform that delivers the speed, scale, reliability and flexibility to connect industrial devices in a truly transformative way.”

“Verizon’s 5G platform capabilities provide the perfect testbed for GE’s research team to build the next-generation, real-time solutions that will transform every industry,” said Tami Erwin, CEO of Verizon Business. “There’s never been a more critical time to build the 21st century infrastructure built on mobility, broadband and cloud and our 5G sits right at the epicenter.”

5G is the next generation network that finally boasts the high speed and low latency that is required to dynamically manage industrial machines, systems and operations.  The speed of 5G Ultra Wideband is at least 10 times faster than 4G and up to 4 Gbps under ideal conditions in some locations.  

GE Research’s 5G Mission Leader, Dr. SM Hasan, likened the speed and scale of a 5G network to being able to have thousands of people in a room at one time running internet apps on their mobile devices without any delays. “If you’ve ever been in a public area like an airport and experienced a slow Wi-Fi connection, it’s because the network is experiencing heavy traffic that slows everything down.”

Verizon’s 5G will eventually be capable of connecting one million devices per square mile, which is 10x greater than 4G. Hasan added, “For us, it’s about enabling thousands of assets to be managed in real-time at one-time. 5G’s speed, scale, and near-instantaneous response time are opening new levels of capabilities in the management of assets and operations that engineers previously could only dream of using.”    

“The superior network speed and capacity of 5G networks will allow us to take full advantage of a multitude of digital technologies to transform industrial assets and operations,” Hasan added. “From AI and machine learning to digital twins and autonomous technologies, 5G can accelerate the path to everything from self-driving cars and digital health to more resilient, reliable energy grids powered by more carbon-free energy assets like intelligent wind farms.”

Verizon already has begun the process of installing its 5G Ultra Wideband network on GE’s Research campus. Eric Tucker, Sr Director of Technical Products at GE said: “We are excited to work with the GE businesses and key partners like Verizon and the U.S. Department of Defense to translate Research to Reality and showcase the power of digitally connected and 5G enabled solutions for our customers, and the world”.

Learn more information about Verizon’s 5G technology. 

About GE Research

GE Research is GE’s innovation powerhouse where research meets reality. We are a world-class team of scientific, engineering and marketing minds working at the intersection of physics and markets, physical and digital technologies, and across a broad set of industries to deliver world-changing innovations and capabilities for our customers. To learn more, visit our website at https://www.ge.com/research/.

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control. 

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at https://www.verizon.com/about/media-center. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact: 

Chris Ashraf
(201) 320-4259

Primary Logo

Source: Verizon Sourcing LLC

2021 GlobeNewswire, Inc., source Press Releases

07:02aVERIZON COMMUNICATIONS : Loop Capital Starts Verizon Communications at Hold With $57 Price..
09/20VERIZON COMMUNICATIONS : celebrates Hispanic Heritage connecting customers to loved ones i..
09/20VERIZON COMMUNICATIONS : announces early participation results and upsize of exchange offe..
09/20VERIZON COMMUNICATIONS : Chairman & CEO to speak at Goldman Sachs conference September 21
09/18VERIZON COMMUNICATIONS : announces accepted amounts and pricing terms for exchange offers
09/17VERIZON COMMUNICATIONS : announces early participation results of its private exchange off..
09/17VERIZON COMMUNICATIONS INC : Other Events, Financial Statements and Exhibits (form 8-K)
09/17VERIZON COMMUNICATIONS : Texas business picks Verizon Business as new service provider
09/17Verizon Communications Inc. Announces Accepted Amounts of Old Notes and Pricing Terms o..
09/17VERIZON COMMUNICATIONS : announces early participation results and upsize of exchange offe..
More news
Analyst Recommendations on VERIZON COMMUNICATIONS
More recommendations
Financials (USD)
Sales 2021 135 B - -
Net income 2021 21 816 M - -
Net Debt 2021 144 B - -
P/E ratio 2021 10,3x
Yield 2021 4,69%
Capitalization 224 B 224 B -
EV / Sales 2021 2,72x
EV / Sales 2022 2,67x
Nbr of Employees 132 200
Free-Float 96,5%
Duration : Period :
Verizon Communications Technical Analysis Chart | VZ | US92343V1044 | MarketScreener
Technical analysis trends VERIZON COMMUNICATIONS
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 28
Last Close Price 54,03 $
Average target price 60,29 $
Spread / Average Target 11,6%
EPS Revisions
Managers and Directors
Hans Erik Vestberg Chairman & Chief Executive Officer
Matthew D. Ellis Chief Financial Officer & Executive Vice President
Kyle J. Malady Chief Technology Officer & Executive VP
Shankar Arumugavelu Global Chief Information Officer
Craig Silliman Chief Administrative & Legal Officer, Executive VP
Sector and Competitors