Famous Telecommunications Company Verizon Communications, Inc

Famous Telecommunications Company Verizon Communications, Inc

Founding Date: 7th October, 1983

Company Name: Verizon Communications

Industry: Telecommunication

Country: New York, USA

Company Website:   www.verizon.com/

The company which is the largest wireless communication company in USA, according to reports of financial year 2014, is Verizon Communications.

History of the Mobile Phone timelineA quick Google search for Verizon Communications would provide results like the official website links of the company, Wikipedia page for the company, news headlines about the company, and company profile on websites like Forbes, The Wall Street Journal, and Bloomberg.

The Conception of Verizon Communications

Verizon customer serviceBell Telephone Company came into existence in the year 1984, as the first company which is predecessor to American Telephone and Telegraph Co., and eventually Bell Telephone Company gave birth to seven shareowners of the company. The Bell Atlantic’s history in  telecom business goes way back than its notable foundation date, for example in 1928, Bell telephone company and Bell System engineers successfully demonstrated the first of its kind event of public demonstration of transmission of pictures over telephonic wires.

founder of Verizon CommunicationsThe transatlantic telephone service, provided by Bell telephone company, cost about $16 US for 3 minutes of telephonic conversation. Bell Atlantic is one of these seven shareowners. In the year in mid-1990s, approximately 1995, Bell Atlantic and NYNEX merged to bring the wireless technological advancements to the East Coast and the South East, USA and was named as Bell Atlantic NYNEX mobile. A merger between Bell Atlantic and GTE gave birth to Verizon Communications in the year 2000. Verizon Wireless was formed in the same year by the combined shares and wireless assets of Vodafone Air Touch and Bell Atlantic.

Verizon Communications ceoVerizon Communications is known for being the pioneer of third generation network (3G) for their primary customer base in United States of America in the year 2002. This was the step ahead in the future as the customers for the first time experienced wireless telecommunication with high speed broadband connection. As a visionary company in the field of telecommunications, Verizon Communications initiated many tremendous inventions and trends for example, in 2003, Verizon Communications brought Local Number Portability technology which would ensure that the clients and customers of Verizon communications can keep their cell phone number intact even while they are moving out of one country or entering another.

Operations of Verizon Communications

Verizon Communications Inc, with a market capitalization of $218.7 billion

The success story of Verizon Communications is attribute to the four divisions of the company namely wireless services, enterprises services, residential and small business services, and partner programs.

Verizon wireless as the name suggests is responsible for all the wireless broadband services provided for the cellular and mobile phones as well as for the computers, Laptops and Tablets. As per the records of the year 2016, the pioneers of 3G network technologies, Verizon Wireless has spread the network of 4G LTE to almost 98% of the telecommunication customer base in US.

Back in the year 2004, Verizon Communication had pioneered yet another venture by launching the all fiber communication services with special focus on internet services. This operation , FiOS and High Speed Internet, became an undertaking of the Residential and Small Business division of Verizon Communications. .

Important Acquisitions

Purchase of MCI Company by Verizon CommunicationsPurchase of MCI Company by Verizon Communications by investing $7.6 billion provided Verizon Communications with a new client base of one billion along with several international holdings. Another important acquisition by Verizon Communications was that of Alltel at a price of $28.1billion in the year 2008.

Social Causes

Verizon CEO on future of communicationsThe marketing advent of Verizon Communications has brought forth various advertisements with a social impact. Inspire Her Mind was an ad launched by Verizon Communications in the Year 2014 which was designed with an idea of motivating and encouraging interests about science, mathematics and technology in the mind of little girls.

Awards and Recognition

Verizon was awarded the America’s No.1 Network in 2016 August and the Fastest Mobile Network (2016).

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