Benzinga | Jun 10, 2021 12:53PM EDT

Verizon Launches Commercial Private 5G In US: Reuters

* Verizon Communications Inc (NYSE:VZ) marked its commercially available private 5G network U.S. debut for high-speed indoor or outdoor connectivity to businesses and government departments, Reuters reports.

* Verizon has been trialing private 5G with multiple customers and has partnered with Microsoft Corp (NASDAQ:MSFT) and Amazon.com Inc (NASDAQ:AMZN).

* The private 5G network will keep every cellular traffic on the customer premises to increase security. Authorized remote users can also access the applications.

* Verizon has been working with Corning Inc (NYSE:GLW), WeWork, Tyndall Air Force Base, and Marine Corps Air Station Miramar.

* Verizon uses Corning radios and Telefonaktiebolaget L M Ericsson (NASDAQ:ERIC) core equipment for the initial deployment. It will be open to using gear from Nokia Oyj (NYSE:NOK) and Samsung Electronics Co Ltd (OTC:SSNLF) in the future.

* The current networks are built on existing 4G networks to ensure backward and forward compatibility for devices.

* Verizon sees huge demand from financial institutions to increase trading flow speed using 5G, and warehouses, which are planning to use robots and autonomous vehicles.

* Several companies are also resorting to 5G to increase speeds and reposition conference rooms to permit more video calls while maintaining social distancing.

* Price action: VZ shares traded higher by 0.75% at $57.48 on the last check Thursday.