On April 4, 2000, Verizon Wireless officially entered the wireless communication market. It was followed by a $90 million joint venture between Bell Atlantic Corp. and Vodafone Air Touch. The company now known as Verizon Wireless is the leading supplier of wireless communication in the United States, offering service in more places across the country than any other service provider. The history of Verizon Communications and Verizon Wireless are very interesting, especially now that the company has grown to its current size and popularity. While Verizon Wireless did not begin corporate operations until 2000, its history can be traced back many years. The company’s roots can be traced to two distinct companies: Bell System and General Telephone & Electronics Corp. (GTE). The history of Bell System can be traced back to the invention of the telephone and Alexander Graham Bell himself. Bell System controlled the telephone market in the United States with a government supported monopoly until 1984 when the divestiture of the company was ordered. As a result, seven “Baby Bell” corporations were formed. GTE was the result of a merger of Sylvania Electric Products and General Telephone in 1959. Currently, Verizon Communications owns 55% of shares and UK-based Vodafone Group owns 45%.
The name "Verizon," is derived by combining two words: "veritas," a Latin term that means "truth," and the word "horizon." Together, they are supposed to conjure images of reliability, certainty, leadership, and limitless possibilities.
About the Company:
Verizon Wireless built and operates the nation’s most reliable wireless network. It is the only major carrier with a 30-day network test-drive pledge that pays for calls if a customer isn’t satisfied and switches to another carrier. Headquartered in Basking Ridge, N.J., Verizon Wireless has the largest number of retail customers in the industry and is the most profitable wireless company in the U.S. A leader in wireless voice and data services, the company: - built the nation’s first wide-area wireless broadband network - delivered the nation’s first wireless consumer 3G multimedia service - launched the most comprehensive mobile music service in the world - has the highest customer loyalty in the industry based on lowest-in-industry churn
Verizon Communications Inc., headquartered in New York, is a leader in delivering broadband and other wireline and wireless communication innovations to mass market, business, government and wholesale customers.
Verizon Wireless operates America’s most reliable wireless network, serving more than 67 million customers nationwide. Verizon’s Wireline operations include Verizon Business, which delivers innovative and seamless business solutions to customers around the world, and Verizon Telecom, which brings customers the benefits of converged communications, information and entertainment services over the nation’s most advanced fiber-optic network. A Dow 30 company, Verizon has a diverse workforce of nearly 232,000 and last year generated consolidated operating revenues of $93.5 billion.
Wireless Phone Customers 67.2 Million
Annual Revenue 2007 $43.9 Billion
Company Operated Stores & Kiosks 2,400 Area