Boston, MA 06/02/2014 (wallstreetpr) – Verizon Communications Inc. (NYSE:VZ)’s Huggers plan to leave the “OnCue” Project signals strategy changes
Erik Huggers, former British Broadcasting Corporation executive, had been involved with the development of OnCue at Intel Corporation (NASDAQ:INTC) for more than two years. He worked for five months with Verizon Communications Inc. (NYSE:VZ) after it acquired Intel’s streaming service. The Intel TV creator however has declared quitting now. His decision is giving airs to the rumor of a change in strategy of the project. The buzz is that the communication giant is losing interest in launching an Internet based TV service.
Losing Interest
Verizon Communications Inc. (NYSE:VZ) had bought Intel’s unit to accelerate the inclusion of video services and demanded TV channels to be deliver via the Internet. After the January acquisition, however, the company is seen to shift interest in the so called “over the top”, or the OTT service and Huggers’ departure is only works to add a confirmation to the news. Previously Verizon had said that the offer would help the company to offer video services over its Fios fiber optic technology.
Huggers, however, declined any conflicts in the issue. He had worked with Verizon’s Marni Walden, who was the immediate superior to him after he moved there, and said that the team he worked with was efficient. He also said that the dream will see a future but the decision is his own stand. He believes that it is time that he moves on, his next target being the Silicon Valley.
Verizon Leads U.S. Market
Verizon Communications Inc. (NYSE:VZ)’s cellular services have been dominating the U.S. market outranging all others including Sprint Communications Inc and T-Mobile US Inc (NYSE:TMUS). AT&T Inc. (NYSE:T) has however been giving a close edge competition and surprisingly, in the first quarter of 2014, the two carriers reported a tie with almost equal market shares. Sprint, on the other hand, has been losing out customers, fell to 16%.
