Verizon executives outlined plans to significantly ramp its C-Band network deployment spending in the second half of the year, as it works towards an initial goal of covering 100 million people in 46 markets.
During Verizon’s Q2 earnings call earlier this week, bosses explained it had already spent around US$160 million on its C-Band deployment in 2021, but plans to take total outlay to between US$2 billion and US$3 billion by the year end.
It committed a total of US$10 billion to its deployment over a three year period.
The operator expects to build 7,000 to 8,000 C-Band sites this year. CFO Matt Ellis (pictured) explained supply chain constraints are not a concern because “the vast majority of the radios” needed “are already sitting in our warehouses”.
Verizon contracted Ericsson and Samsung to provide radio, antenna and baseband equipment.
Ellis said Verizon had spent roughly $60 million in “incremental tower lease costs related to the updated agreements to accelerate the deployment of our C-Band spectrum”.
In addition to mobile broadband, Verizon plans to use C-Band spectrum for its 5G Home Internet fixed wireless access service, which today covers 47 markets using mmWave.
Verizon spent US$45.5 billion to acquire 3,511 C-Band licences.
