Verizong inks first 5G contract in Europe

Verizon Communications Inc. (NYSE: VZ), one of the largest US telecommunications companies, signed its first private 5G contract in Europe with Associated British Ports (ABP) on Thursday to install the cellular network in the Port of Southampton. The port of Southampton on the south coast of England is one of the largest car and cruise ports, handling around 900,000 cars and millions of cruise passengers annually. It will also be the first port in mainland Britain to have private 5G. Verizon signed agreements with <a class="tvreplink" target="_blank" href="https://www.tradingview.com/chart/?symbol=Nasdaq%3AMSFT">Microsoft in October https://www.reuters.com/article/verizon-5g-microsoft/verizon-signs-up-microsoft-nokia-to-help-clients-build-private-5g-networks-idINKBN2750CD (NASDAQ: MSFT) and Nokia (NYSE: NOK) met to deliver private 5G. In international markets where Verizon does not have its own network, it works with Nokia to build private networks for manufacturing and logistics companies. Private 5G networks eliminate the need for companies to argue about speed with others on a public network and enable data-intensive applications that use computer vision, augmented reality and machine learning to increase productivity. The new technology will help the port enable the use of real-time analytics, asset tracking, autonomous driverless vehicles and security monitoring. "We were able to equip ABP to take advantage of the immediate benefits of 5G in the home and ... take full advantage of new technology applications and real-time analytics that will digitally transform its services in the future," said Tami Erwin, CEO from Verizon Business.