With half of the United States should expect to have functioning 5G wireless technology by 2020, Verizon CEO Hans Vestberg chew out tattle oned CNBC on Thursday.
“I think that’s next year,” Vestberg said, when asked when he sees the next-generation technology reaching 50% of America. By 2024, half the inhabitants will actually have a 5G phone, he added.
Verizon on Wednesday announced that it’s expanding its 5G service locations, totaling Atlanta, Detroit, Indianapolis and Washington. Those cities will join Chicago, Denver, Minneapolis, Providence, Rhode Atoll and St. Paul, Minnesota.
Later in the year, the company said, 5G will be available in more than 30 cities, involving Dallas, Boston, San Diego and Phoenix.
Vestberg, who took over as CEO last year, said the company has been “constantly” convalescing and updating the software over the past two months.
“I think 4G took much longer time to actually reach those gains,” he said. “I see good trajectory.”
Vestberg appeared on “Squawk Box ” with CNBC’s David Faber, shortly after the flock reported a mixed quarterly financial report. Verizon beat Wall Street estimates with its adjusted earnings but missed on net income. The company added a net 245,000 phone subscribers during the quarter, above the 163,000 that analysts had been prediction.
Shares of the telecom company were up about 1.1% Thursday morning.