Verizon, the first Provider to Launch to launch a truly fast and comprehensive 4G LTE network across most major markets. But in an investment report today, Verizon revealed that only five percent of their customers are currently utilizing the company’s 4G LTE network. That five percent, a number expected to rapidly increase in 2012, totals out to roughly five and a half million Verizon subscribers with 4G LTE plans. The company’s 4G network currently covers almost two-thirds of the American population, with over “200 million” reported under 4G LTE coverage.
Verizon Wireless CFO Fren Shammo explained that the 3G network Verizon built was made so that the carrier could handle the launch of the iPhone, but except for that the carrier wants to keep that investment at the absolute possible minimum. Big Red is trying hard to balance the sums it spends on 3G low and push 4G quickly, since that’s where the big returns are.