Verizon CEO Hans Vestberg gives us an update on Verizon's ultra wideband 5G and talks about taking the stage with Tim Cook at the Apple iPhone event. Vestberg at Yahoo Finance’s All Markets Summit.

Video Transcript

HANS VESTBERG: We are working with our 5G strategy for several years. Right now, we're deploying our 5G as well. I think that what's happening last week when I took the stage together with Tim Cook was, of course, that we-- we have the network, we have the Ultra Wideband 5G that you talked about.

We have also-- we turned on the nationwide 5G, and then, of course, given the importance of the iPhone in the US for the consumers, then we have the phone that a majority of US consumers have. So that was sort of the reason why we felt this is now 5G is getting real because all the components are coming together. And as you might know, where we-- our strategy is very clear when it comes to our network.

And first of all, we have the best 4G network. Then we have the Ultra Wideband. We have that in 55 cities, in the most dense part of this of the country, where we can do it enormous a lot of new things with high speed, capacity, and low latency. At the same time, we turned on the nationwide 5G on the lower band of the spectrum.

That is covering more than 200 million subscribers in 1,800 cities. So all of that came together alive at the same time as the launch of the iPhone 12, which all of them can enjoy all the technologies that we have deployed in the network. So that's why it was a big moment for Verizon. We have been part of this strategy for years, and now it started coming to the market, to our consumers, and to our customers.