Boston, MA 08/26/2014 (wallstreetpr) – Verizon Communications Inc. (NYSE:VZ), the leading provider of wireless communications in the U.S. market, just took industry competition a notch higher. The company announced plans to launch high-definition voice and video calling services available on the LTE network. That new and perhaps great experience is coming in the next few weeks.
New competition frontier
In announcing an improved voice and video calling service, Verizon just brought to the fore the reality that carriers are not done with what they are able to innovate. Competition among the top four carriers, AT&T Inc. (NYSE:T), Sprint Corporation (NYSE:S), T-Mobile US Inc (NYSE:TMUS) and Verizon itself, has always centered on pricing, service quality, network strength and even customer care experience. However, Verizon’s Voice and Video over LTE is set to bring a new competition aspect as carriers seek to attract more subscribers to their side.
Concerning the HD Voice and Video calling announced by Verizon Communications Inc. (NYSE:VZ), the company gives subscribers to enjoy Skype-like video communication and even more improved voice communication. Users can also choose video-only calling or voice-only calling as they please. The service is available for smartphone users on Verizon network – the phones much be VoLTE-enabled. However, Verizon stated that the calling experience will remain the same where a subscriber on VoLTE-enabled smartphone from Verizon communicates with a subscriber on another network.
Bottom line agenda
With face-to-face mobile communication service, Verizon hopes to attract more subscribers to its network. For carriers, improving revenue and profits is the central agenda in the introduction of innovative solutions. For Verizon, relying on innovative products to boost financial performance appears to be a low-risk and even sustainable approach to combating competition compared to the price war waged by rivals.
Verizon Communications Inc. (NYSE:VZ) posted positive earnings results in its most recent quarter. It earned $0.91 a share on revenue of $31.50 billion. That compared with earnings of $0.90 on revenue of $31.10 billion that analysts expected on the average for the quarter. Even revenue increased 5.7% over the same quarter last year.
