Verizon (NYSE: VZ) said Wednesday that it will double the speeds of its premium FiOS Internet tiers, offering download speeds ranging from 50 Mbps to 300 Mbps.
But Verizon said that it won't increase the speed for its 15 Mbps entry level high-speed Internet service, which costs subscribers $50 monthly as a standalone service. The company said it will detail standalone and bundled pricing for the new high-speed tiers when they launch next month. Today, it charges $70 monthly for its 25/25 service, $140 for its 50/20 tier and $194 for its 150/35 tier.
The new tiers would double the speed of its popular 25 Mbps FiOS Internet service to 50 Mbps, and offer users upload speeds of 25 Mbps. Verizon said it will also offer speed tiers of 75/35, 150/65 and 300/65.
Verizon's move will likely prompt Cablevision (NYSE: CVC), Time Warner Cable (NYSE: TWC), Comcast (Nasdaq: CMCSA) and other cable rivals to increase the download and upload speeds for their cable modem customers. Time Warner Cable currently markets a 50 Mbps wideband service to subscribers, while the fastest tier offered by Comcast is 105 Mbps. Cablevision offers its customers a 101 Mbps Optimum Ultra service, but its most popular tier features speeds of 15 Mbps.
Verizon said its new broadband Internet tiers are designed to meet demand for Internet video from subscribers, and support products such as home monitoring devices, video chat, multiplayer gaming and online backup services.
- see the news release
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