Verizon Communications Inc., through its subsidiaries, provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. Segments The company's business includes two segments, Wireless and Wireline. Wireless This segment’s communications products and services include wireless voice and data services and equipment sales, which are provided to consumer, business and government customers across the United States. This segment consists of Cellco Partnership doing business as Verizon Wireless. The company owns 100% ownership of Verizon Wireless. Verizon Wireless is a wireless service provider in the United States. As of December 31, 2014, Verizon Wireless had 108.2 million retail connections. The company’s fourth-generation (4G) long-term evolution (LTE) network is available in approximately 500 markets covering approximately 309 million people, including those in areas served by its LTE in Rural America partners. Under this program, the company is working with wireless carriers in rural areas to collaboratively build and operate a 4G LTE network using each carrier’s network assets and its core 4G LTE equipment and 700 MHz C Block and Advanced Wireless Services (AWS) spectrum. The company has substantially completed the deployment of its 4G LTE network and is focusing its capital spending on adding capacity and density to this network. Wireless Service and Product Offerings The company’s wireless services are available to its customers receiving service under the Verizon Wireless brand. In addition, customers can obtain wireless products and services that operate on its network from resellers that purchase network access from it on a wholesale basis. Wireless Services The company offers its wireless services on a postpaid and prepaid basis. Retail (non-wholesale) postpaid accounts primarily represent retail customers under contract with Verizon Wireless that are directly served and managed by Verizon Wireless and use its branded services. A single account may include monthly wireless services for various connected devices. A postpaid connection represents an individual line of service for a wireless device for which a customer is billed in advance a monthly access charge (access service revenues) in return for a monthly network service allowance, and usage beyond the allowance is billed in arrears (usage service revenues). The company’s prepaid service enables individuals to obtain wireless services without a long-term contract or credit verification by paying for all services in advance. The company offers various postpaid account plans, including its More Everything plans, single connection plans and plans tailored to the needs of its business customers. Its More Everything plans feature domestic unlimited voice minutes, unlimited domestic and international text, video and picture messaging, cloud storage and a single data allowance that can be shared among up to 10 devices connected to the Verizon Wireless network. Customers that choose its Verizon Edge device payment plan option, which allows customers to upgrade their handset after a minimum of 30 days, subject to certain conditions, also receive discounted monthly access fees on More Everything plans. For an additional monthly access fee, its customers have the option of sharing long distance and roaming minutes among their devices for calls from the United States to, and calls while within, Canada and Mexico. The More Everything plans also include the company’s Mobile Hotspot service at no additional charge. This service enables a customer to activate a personal Wi-Fi hotspot through their smartphone that can provide Internet access to multiple Wi-Fi enabled devices. The company also offers various voice and shared data plans for small and large businesses. The company offers its customers various wireless services accessible on a range of its devices. Its messaging services enable its customers to send and receive text, picture, and video messages. In addition, access to the Internet is available on all of the company’s smartphones and nearly all of its basic phones.
verizon communications inc (VZ:New York)
1095 Avenue of the Americas
New York, NY 10036
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