KIANEWS Comcast is partnering with Nokia to sell private 5G networks to large enterprises
23. 01. 2022 Sunday / By: Robert Denes / Business / Exact time: BST / Print this page
W ells Fargo Center’s new 5G wireless network will be virtually no delay between events on the floor and events on the video screen of the Flyers, Sixers and Villanova games.
Comcast’s advancement to 5G comes from registering more large customers, from national restaurant chains to federal government agencies. Many of the world’s largest businesses are expected to use 5G, which is capable of connecting to thousands of devices at higher speeds, with greater reliability and more than previous wireless networks.
Cable business giant Comcast Business will deploy its first private 5G network at the Wells Fargo Center in the first quarter of this year, company officials said.
Non-exclusive collaboration allows Comcast Business to use Nokia's wireless technology. The financial terms were not disclosed. Comcast-owned Wells Fargo Center is showcasing 5G by providing better live coverage on its huge scoreboard, so there’s virtually no delay between what happens on the ice and what happens on video screens. The wireless network also allows fans to receive real-time information about parking lot traffic and traffic as they leave the venue.
“Let’s shoot Gritty,” said Bob Victor, vice president of product for Comcast Business. "As Gritty walks into the stadium, she'll be able to project what she sees in real time."
5G or fifth generation wireless networks are expected to drive a wave of innovation. According to Deloitte, at faster speeds, 5G networks can connect up to one million devices per square kilometer, compared to up to 100,000 on 4G. The latency of 5G networks is also lower, meaning that applications can respond in a thousandth of a second. Most consumers will not see the benefits immediately. Wireless carriers are still building their nationwide networks for smartphones, and 5G’s most anticipated uses, such as autonomous vehicles, will be available to consumers in years to come.
But warehouses and factories already have a reason to use 5G, industry experts said. According to Deloitte research, in 2020, more than 100 companies worldwide were required to test the deployment of 5G private networks.
Industrial facilities often have hundreds, if not thousands, of sensors, cameras, or robots that rely on an Internet connection. To ensure the fastest response time, companies often connect devices directly to physical cables. With 5G, companies can connect their machines reliably wirelessly, removing miles from the factory floor.
“In a way, this is your home Wi-Fi network on steroids,” said Roger Entner, a telecommunications expert and founder of industry research firm Recon Analytics.
Launched in 2006, Comcast Business initially focused on small businesses, selling TV, Internet and telephone services to “Main Street” restaurants and retail stores, said Bill Stemper, president of Comcast Business. The company’s revenue has grown 546% in the past decade, from nearly $ 1.3 billion in 2010 to nearly $ 8.2 billion in 2020, when Comcast achieved total revenue of $ 103.6 billion. CEO Brian Roberts told Comcast Business in September it had the highest profit margin among Comcast’s segments.
“Business services are a small part of Comcast’s cable realm, but they have grown quite rapidly,” said Bloomberg industry analyst Geetha Ranganathan. "We think it could grow to about $ 13-14 billion [in annual revenue] over the next five years."
Small business customers have led the growth, but the company has a smaller share of the mid- to enterprise markets, company officials said. Comcast wants to sign up for more large customers, some of whom pay millions of dollars a month for services, Stemper said.
According to Stemper, Comcast is pushing hard for fast food and is now one of 11 of the top 15 sales chains, including Dunkin 'and Taco Bell. Federal agencies have also come into focus. In August, Comcast won its fifth multi-million dollar contract from the Defense Information Systems Agency to replace old circuits across the country. The U.S. Postal Service is also a customer.
“It’s a strong competitive area. The telcos are very, very strong. But this is an area of opportunity and growth, ”Stemper said. "We really love our early return."
In October, Comcast acquired Masergy, a Texas-based software network service provider, for an undisclosed amount. This agreement will help Comcast serve U.S.-based companies around the world, Stemper said. Asked if Comcast Business could make additional acquisitions, Stemper said the company is always looking for potential deals, “but frankly, these are very few”.
The pandemic boosted Comcast’s home Internet business, but had the opposite effect on business services, slowing revenue growth as companies closed in early 2020. These headwinds were mostly left behind, Stemper said. And the pandemic has accelerated trends such as online shopping and telecommuting that make its services more important.
Via Link“As much as we want to have no COVID, we want it to disappear, creating unique forces that have only led to even greater growth for us,” Stemper said.
