Verizon Invests $1.8 Billion in New York State Wireless and Wireline Networks

by Istvan Fekete on January 25, 2016

Verizon-logo-bigVerizon invested more than $1.8 billion in New York state’s wireless and wireline networks in 2014, the carrier told the New York Assembly Committee on Corporations, Authorities and Commissions in a hearing last week.

The carrier also reassured the Committee of its commitment to build out new wireless and wireline services in the state. On the wireless side, Verizon says it has built out its FiOS FTTH service to more than 4 million New York state homes and businesses.

During the fourth quarter, Verizon’s FiOS brought in most of the company’s revenue, the earnings report reveals. FiOS revenue was driven by the addition of 99,000 new FiOS Internet connections and 20,000 new FiOS video connections. On the wireline side, Verizon reported revenue of $4.1 billion, up 2.6% compared to the same period a year previously.

During the hearing Verizon encouraged the state of NY to adopt regulatory reforms that it is said would drive new technology investments. It has also claimed that customer complaint rates “are at their lowest levels in recent years and continue to improve.”

Back in October 2015, NY Attorney General Eric Schneiderman sent a letter to Verizon, Cablevision, and Time Warner Cable execs to collect data on whether they charged consumers for speeds lower than advertised Internet speeds.

Also, an audit conducted by New York City’s Department of Information Technology and Telecommunications found that Verizon has failed to deliver on its promise to provide fiber-optic services for television and broadband to anyone who wants them by 2014. The facts Verizon presented at the hearing were a direct response to the aforementioned claims.

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Written by: Istvan Fekete. Follow by: RSS, Twitter, Facebook, or YouTube.

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