Troubles With Verizon’s 4G Network, Again (VZ, T, S)
Verizon Communications Inc. (NYSE: VZ) had already suffered one outage of its new heavily marketed 4G network. It appears that the data portion of that 4G network is suffering yet another outage today, although today’s outage is more intermittent rather…
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Our own Douglas McIntyre put in a call to customer service, due to the 4G data package not working in New York City. He was told that the voice and text services are working normally, but the 4G data network (i.e. data transfer and proper internet usage) is experiencing intermittent outages at the moment. My own iPhone is on the 3G network, and it did work fine. A call into the local store here in Houston confirmed that the iPhone is on the 3G network.
Marketing heavily for the 4G network is something that you have expected considering all of the challenges that Verizon has made for AT&T (and that AT&T has made against Verizon). What this does to Verizon’s marketing efforts is questionable at best. It has to be a win for AT&T. If the problems persist and if it turns out that Verizon was not really much better than AT&T, one might even be able to argue that it could be a win for Sprint Nextel Corporation (NYSE: S).
Sprint shares are up almost 1% at $5.24, AT&T is up 0.35% at $31.24 and Verizon shares are up only $0.02 at $37.80.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.