Verizon will launch the world's first next-generation 5G service on Oct. 1 for residential customers in four cities, and has been expanding the use of its 4G network to include connected vehicle and fleet data.

Verizon will launch 5G Home in Los Angeles, Houston, Sacramento, and Indianapolis, the company announced. The 5G-powered broadband internet service will run on Verizon's fiber-optic Ultra Wideband Network. It will offer speeds of 300 Mbps and peak speeds of nearly 1 Gig. It will cost $50 per month for Verizon customers with qualifying wireless plans and $70 for other customers.

Verizon has been finding new uses for its 4G network, including connected vehicles, fleet, Internet of Things, and smart city services, reports Motley Fool.

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