Comcast Corporation (NASDAQ:CMCSA) Plans to Rival Google Fiber With an Even Faster Internet Service

Comcast Corporation (NASDAQ:CMCSA) is trying to compete in the race for ultra-high speed internet. Recently, the company launched one of its products in Atlanta, to rival Google Fiber. The service named Gigabit Pro offers up to 2 Gbps, which is twice when compared to its rivals. Whilst AT&T and other companies are aiming to compete as equals with ultra fast Google Fiber, Comcast is going out of the way to offer its consumers an even better service. The Gigabit Pro will begin operations from next month.

Have technical analyst identified a strong wedge in CMCSA?

Comcast released only some of the details saying that the service would be kept symmetrical, means same speeds for downloads and uploads, but it has yet to release the pricing. The company also informed its customers that it would not go for selective distribution; the entire populace of 1.5 million would be able to use the service.

The Senior VP of Comcast, Doug Guthrie, expressed his company’s views to offer the best multi-Gigabit service. They plan to do this in a swift and efficient manner, with a plan to reach everyone in the city, rather than just certain areas. He also pointed out the fact that his company already provides the fastest internet to consumers in the region. It should, however, be noted here that Comcast had previously claimed that there was no need for Gigabit internet in the US.

Comcast does have a small advantage over its competitors in this field, since it has been providing the ultra-high speed service to businesses since 2010. The company is also aiming high, in terms of public outreach, as they expressed their objective to reach 18 million homes by the end of this year. Additionally, Comcast also has plans for a 1 Gbps internet service, to equal that of Google, but that is planned for 2016. The company also plans to provide the 1 Gbps service to every consumer in its operational boundaries, within a year.

Comcast Corporation (NASDAQ:CMCSA) closed at $58.47, gaining 0.09% on April 20. The company has a huge 2.13 billion shares being traded in the market, with a 52-week range of $49.16-$58.94.

About the Author

John is a special projects and general assignment reporter, noted for breaking several exclusive stories.

Leave A Response