The company's 4G Long Term Evolution (LTE) network aims to deliver faster speeds than its existing 3G network, which will primarily be of interest to customers who love watching video or downloading huge files on their laptops or smartphones. For those people who only plan to use the Verizon network to make phone calls, check email and surf a couple of websites, the move to 4G may seem more of a nonevent.
Verizon plans to launch the service first in 38 major metropolitan areas. It offers a glimpse of what's to come in this video.
But Verizon isn't the only game in town. Sprint (S) has its 4G network up and running, and AT&T (T) is gearing up to launch a faster version of its network as well, Then there's hedge fund bigwig Philip Falcone of Harbinger Capital Partners, who has similar plans for his SkyTerra. With all these carriers looking to offer faster and better, consumers -- especially data hogs -- stand to benefit.