Corning won Verizon $ 1.05 billion 3-year fiber optic cable supply

 

4/18/2017, Verizon Communications today announced that it has entered into a three-year contract with Corning for fiber optic cable and related hardware, which will be used in Verizon’s national wireless broadband network.

Under the contract, Corning will provide 20 million kilometers of fiber per year from 2018 to 2020, with a minimum purchase commitment of $ 1.05 billion.

In recent years, Verizon has been around its next-generation fiber platform to refactor their network architecture to better support 4G LTE and 5G deployment, for all types of users to provide high-speed broadband services. In 2016, Verizon started the One Fiber program in Boston and expects to continue investing $ 300 million in fiber deployments in six years.

Roger Gurnani, Verizon’s chief information and technology architect, said Corning’s unique product capabilities provide Verizon’s network with performance and cost advantages to help Verizon better expand network coverage and transfer capacity.

Viju Menon, Verizon’s chief supply chain official also said that the current fiber market supply shortages, Verizon has been in the same industry to predict market demand and negotiate with suppliers to fill the market. The purchase order with Corning will ensure Verizon plans to complete the fiber deployment.

Clark Kinlin, executive vice president of Corning, said it was pleased to see Verizon recognize Corning’s innovative solutions and use it in its next-generation network architecture, such as One Fiber. Verizon’s orders guarantee Corning’s ongoing expansion plans.

Over the past few months, Corning has announced an investment of $ 250 million to expand existing fiber plants. Corning expects production capacity to be fully realized by 2018.