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Verizon Wireless - Company Report
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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
Verizon Wireless, which is legally known as Cellco Partnership, is a mobile network operator in the US, with more than 56.7 million subscribers as of September 30, 2006. The company claims to be the leading wireless communications provider in the US in terms of profitability, as measured by operating income, and the second-largest domestic wireless carrier in terms of the number of customers and revenues. Verizon Wireless offers wireless voice and data services across one of the most extensive wireless networks in the US. Verizon Wireless has Federal Communications Commission (FCC) licences to offer services in areas where approximately 255 million people reside. The company's owned and operated network provides service in, or covers, areas where approximately 90% of the population in its licensed markets resides, equating to coverage for approximately 250 million people, including in 49 of the top 50 and 97 of the top 100 most populated US metropolitan areas. The company's owners are wholly-owned, indirect subsidiaries of Verizon Communications Inc, the second-largest provider of wireline communications services in the US, and wholly-owned, indirect US subsidiaries of Vodafone Group Plc, one of the leading wireless telecommunications companies in the world. Verizon Communications owns 55% of Verizon Wireless, with Vodafone holding the remaining 45% stake.
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