CEO Says Verizon Is Well Positioned on Spectrum With C-Band
Verizon CEO Hans Vestberg offered more clarity Tuesday about the carrier’s view of its spectrum needs. The wireless industry eventually will need more licensed spectrum for the U.S. to remain “competitive” with other markets, particularly Asia, Vestberg said during a…
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J.P. Morgan financial conference. “You need predictability, you need ownership, you need spectrum” to justify investments, he said. Like Sowmyanarayan Sampath, Verizon Consumer Group CEO, who mentioned the issue last week (see 2405140055), Vestberg said the company doesn’t face short-term needs, with an average of 161 MHz of C-band in markets nationwide, about half of which is now in use. “I sit really good on the 161 MHz of C-band that we bought,” he said. On another issue, Vestberg said the end of the affordable connectivity program is bad news. The program “is very important for the U.S. economy,” he added. Verizon has about 1.1 million customers receiving ACP funding, he said. Low-income families “should have a possibility to have broadband wireless,” he said, noting other Verizon programs can serve them. Vestberg also said the wireless industry's importance is “sort of underestimated.” Wireless and broadband “are two of the most essential and critical services for people, for organizations, for companies,” he said. People need broadband to work, for education, to access healthcare and to “have some joy in life,” he said. Vestberg said network slicing will be critical to the launch of private networks. Slicing will allow the setup of a private network “probably 10 times faster than … today, because today I need to break out part of the radio network and part of the core network,” he said: “In the future, I can just do a slice and I can probably do it in hours.”