Verizon invests in fiber to boost its wireless network

Verizon plans to invest $1.05 billion to buy millions of miles of fiber-optic cable over the next three years, paving the way for faster 4G, setting the network up for the coming switch to 5G, and rolling out faster broadband to homes.

The company has struck a deal with Corning to purchase up to 37.2 million miles of optical fiber and related hardware.

"The agreement calls for Corning to provide and Verizon to purchase up to 20 million kilometers (12.4 million miles) of optical fiber each year from 2018 through 2020, with a minimum purchase commitment of $1.05 billion," Verizon said in a statement.

"This new architecture is designed to improve Verizon's 4G LTE coverage, speed the deployment of 5G, and deliver high-speed broadband to homes and businesses of all sizes."

In an initial deployment, Verizon launched One Fiber in Boston in 2016 and plans to invest $300 million over six years to deploy it throughout the city.

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