Verizon pumps $347 million into its Florida wireline network in 2012
Verizon Communications (NYSE: VZ) on Monday said that it spent over $347 million on its wireline networks and IT infrastructure in Florida, including the Tampa Bay area, in 2012.
A big part of the investment in Florida was related to its FiOS Fiber to the Home (FTTH)-based service.
As of the end of the year, the telco's FTTH TV and Internet service reached 1.2 million Tampa Bay area homes and businesses. The service provider also extended its FiOS Quantum Internet tiers, which include four new download/upload speed tiers--50/25, 75/35, 150/65 and 300/65 Mbps--across the state.
Tampa has been a big target market for FiOS. In May 2010, the city became one of the first locations where it eliminated FiOS contracts for FiOS subscribers.
One of the other benefits of the ongoing FTTH drive in Florida is that they have been simultaneously extended fiber network infrastructure to help Verizon Wireless support the growth of its 3G and 4G LTE services. Last year, the telco deployed fiber to connect 117 of its cell sites in the state.
Overall, FiOS continues to be a hot seller for Verizon. Purchases of higher speed FiOS services drove broadband revenue up 3.1 percent to $3.5 billion for full-year 2012. The telco ended the fourth quarter with a total of 5.4 million FiOS Internet and 4.7 million FiOS video connections, representing year-over-year increases of 12.6 percent and 13.3 percent, respectively.
Although Verizon has been winding down its deployment of FiOS by concentrating on existing markets, the telco did convert what it calls 200,000 "chronic copper customers," which are those that have had multiple repair calls on their copper-based landline voice service.
In addition to Florida, Verizon invested capital in New York, Connecticut and New Jersey throughout 2012. The telco invested $1.5 billion in its New York and Connecticut wireline networks, while dedicating $627 million in its New Jersey wireline networks.
- see the release
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