To catch up with the world at great speeds, Verizon Communications Inc. (NYSE:VZ) yet again proves itself to be the leader in the line as it rolls out its new 4G LTE network dubbed “XLTE.”
Deciphering the meaning of the new network term, it involves an Advanced Wireless Services (AWS) Long-Term Evolution (LTE) network, which mainly emphasizes the speed of the new system. That means that the network is a plain LTE network on a new wireless spectrum, which in this case is AWS. According to a statement, Verizon Communications Inc. (NYSE:VZ)’s brand new network will double the data bandwidth on 4G LTE compatible devices, thereby, delivering faster and reliable throughput.
The users will need an AWS-enables device in order to witness a faster speed. While Verizon Communications Inc. (NYSE:VZ) confirms on its website that almost all devices have AWS capability, some of the confirmed AWS-capable devices include Samsung Galaxy S4, S5, Note 3, and Apple Inc. (NASDAQ:AAPL)‘s iPhone 5c and 5s. However, the new devices launched from here on are supposed to be AWS compatible. For those, who do not have an AWS device could still enjoy the benefits of the service through these improvements. Meanwhile, the company has also deployed the network service across the Unites States. It is to be noted that Verizon has been busy with the upgrade plans since the last two years. In 2012, the company had acquired in a deal worth nearly $3.6 billion spectrum licenses from Time Warner Cable Inc (NYSE:TWC), Comcast Corporation (NASDAQ:CMCSA) and Bright House Networks among other service providers.
Verizon Communications Inc. (NYSE:VZ) has also captured the attention of investors recently. One of the most notorious of them is Warren Buffett, whose Berkshire Hathway, in its latest 13F revealed that it has bought a new stake in Verizon during the first quarter of the year, disclosing a position of 11 million shares, valued at nearly $525 million.