Verizon Wireless ahead of target on high-speed network

  • Verizon Wireless has said it is two months ahead of schedule in its network upgrade.

    The firm said it would have high-speed wireless service in 400 markets by October 18, ahead of its year-end target.

    Since late 2010, Verizon Wireless, a venture of Verizon Communications and Vodafone, has been upgrading its network with a high-speed wireless technology known as Long Term Evolution (LTE).

    Verizon Wireless said on Tuesday that around 35 percent of the company's data traffic was transmitted over the LTE network by the end of September, adding it would not be too long before the majority of its traffic runs on the new network.

    Like rivals AT&T and Sprint Nextel, Verizon Wireless is spending billions of dollars on upgrading its network to support rising demand for services like mobile web usage.

    AT&T expects to have its LTE service in 100 markets by the end of this year.