Verizon Wireless launched its next-generation 4G LTE network a little over a year ago, but unfortunately most customers are still using 3G. Wall Street Journal reports that only 5 percent of all Verizon customers are taking advantage of LTE speeds a year after the nationwide rollout began.
As of the end of last year, Verizon Wireless had 87.38 million subscribers with a contract. To crunch the numbers, that means only approximately 4.37 million of those subscribers are using LTE.
Fran Shammo, chief financial officer of Verizon, expressed concern at an investor conference about the slow adoption rate of 4G LTE as the company tries to move forward from 3G. “It is very critical for us, and we’re playing a very delicate balancing act here that I don’t want to spend any more money on my 3G network,” he said.
Spreading the word about 4G certainly isn’t the problem here since the carrier has been heavily promoting it from day one. A current promotion is going on nationwide that doubles monthly 4G data for new smartphone buyers at no extra cost. Customers in the south also have another opportunity to start using the LTE network because Verizon is offering them a free Android smartphone when they sign a new two-year contract.
Coverage isn’t the problem either. Verizon (along with competing carriers) is actively rolling out the LTE network to new markets and has best coverage among all major carriers in the US, albeit some kinks do need to be worked out.
This year’s sixth-generation iPhone is expected to be LTE-capable and will therefore help give the network a welcome boost. Android phones have had this technology for a while now, but obviously aren’t selling well enough to give Verizon peace of mind.
[via WSJ]