UPDATE 2-Verizon to launch new high-speed service on Sunday

* Service starts Dec. 5

* 4G service plans start at $50 per month
(Adds comparison to other wireless carriers)

NEW YORK, Dec 1 (BestGrowthStock) – Verizon Wireless introduced a
new high-speed wireless data service, which it said will be up
to 10 times faster than its existing wireless service .

The top U.S. mobile company, a venture of Verizon
Communications Inc (VZ.N: ) and Vodafone Group Plc (VOD.L: ), said
the 4G LTE wireless service will be switched on this Sunday.
Prices will start at $50 per month.

The launch comes as more consumers use smartphones and
tablet computers to access the Internet, often downloading
music and videos, which require fast wireless speeds. The move
to 4G LTE, the latest wireless network standard, enables faster
and smoother wireless Internet access.

The $50 monthly plan will allow 5 Gigabyte (GB) use, while
a $80 plan allows for 10 GB use, Verizon Wireless announced on

Five GB is usually enough for someone who browses the Web,
uses Facebook and sends and receives e-mails. But video takes
up more space, with movies on Netflix taking up around 1 GB per
hour on average.

It currently charges $60 for 5 GB usage on its previous, 3G
service. While it’s charging less for a more advanced service,
the company said it expects many customers to opt for the 10 GB
plan as the new technology would allow for heavier usage.

Verizon Wireless has trailed smaller rivals Sprint Nextel
(S.N: ) and Clearwire Corp (CLWR.O: ) in offering services using
the latest generation of wireless technology.

But some analysts have said Sprint, the first to sell a
phone running on a next generation network, may lose its
advantage once Verizon starts offering its service.

Verizon is ahead of its next biggest rival AT&T Inc (T.N: )
in upgrading to the new standard. AT&T, however, likes to point
out that it is able to boost network speeds by tweaking its
existing network technology.

AT&T currently has exclusive U.S. carrier rights to sell
Apple Inc (Read more about Apple stock future.)’s (AAPL.O: ) iPhone, but analysts widely expect Verizon
Wireless to gain rights to sell the phone in the first quarter
of 2011. It is not clear if Apple will make an iPhone that
works on Verizon’s latest technology.
(Reporting by Ritsuko Ando and Sinead Carew; editing by Andre
Grenon and Derek Caney)

UPDATE 2-Verizon to launch new high-speed service on Sunday