Verizon Awards 5G Contract to Ericsson

WASHINGTON, Dec. 11, 2017 /PRNewswire/ -- Verizon has selected Ericsson (NASDAQ: ERIC) to provide networking equipment for their commercial 5G launch. Verizon will deploy the pre-standard 5G commercial radio network and the 5G Core network in select markets in second half of 2018.

The companies are demonstrating continued industry leadership by accelerating the path to 5G. Verizon and Ericsson plan to work together to move the mobile ecosystem towards rapid commercialization of 5G.

Ed Chan, SVP Technology Strategy and Planning for Corporate Networking and Technology, Verizon says: "5G will change the way we work, interact, learn and play. Through our work with Ericsson, we are creating a clear roadmap and building a robust ecosystem that will enable us to maximize the potential of 5G."

Fredrik Jejdling, Executive Vice President and Head of Business Area Networks, Ericsson, says: "Our pioneering work with 5G will make US consumers and businesses among the first in the world to benefit from the transformative services of the new technology. It further illustrates how our global 5G portfolio, designed to support 5G NR as standardized in 3GPP, enables first movers in the early commercialization of 5G networks."

During the past year, Ericsson and Verizon have conducted fixed-wireless 5G trials using mmWave spectrum in multiple cities and residential neighborhoods with different geographies and housing densities. This has been a critical step in Verizon's plan to deploy a first-of-its-kind fixed wireless broadband network.

These trials have also been instrumental in understanding 5G technologies and mmWave propagation used in the Verizon 5GTF and the coming 3GPP 5G NR standard. These new technologies are expected to be critical in meeting the increasing connectivity requirements for emerging, mobile and fixed wireless, consumer broadband experiences, such as streaming high-definition video, immersive virtual/augmented reality, and connected cloud computing.

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Ericsson is a world leader in communications technology and services with headquarters in Stockholm, Sweden. Our organization consists of more than 111,000 experts who provide customers in 180 countries with innovative solutions and services. Together we are building a more connected future where anyone and any industry is empowered to reach their full potential. Net sales in 2016 were SEK 222.6 billion (USD 24.5 billion). The Ericsson stock is listed on Nasdaq Stockholm and on NASDAQ in New York. Read more on www.ericsson.com.

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