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havior practice followed by the management has resulted in a workforce that possesses the required knowledge and skill to develop innovative products and services.
Verizon Communications Inc. is one of the well known companies in wireless communication sector that offers services to mass market, government, business and wholesales customers. The company has its headquarters in Basking Ridge, New Jersey, USA. The customer base of Verizon is around 92 million which makes it one of the market leaders in America. The company also offers converged communication along with information and entertainment to highly advanced fiber-optic network. For its international customers, the company has several innovative seamless business solutions (Verizon-a, 2010).
Verizon was established in June 03, 2000 and is a joint venture of Verizon Communications and Vodafone Group having a partnership ratio is 55:45. Later on, in January 09, 2009 Alltel Wireless acquired Verizon Wireless in a deal of $28.1 billion (Reardon, 2009).
The total customer base of the company comprises 99.7 million customers with 175+ switching centers. Similar to the customer base, the number of employees working in the company is also large. As per the data revealed by the company, Verizon employees more than 79,000 workers.
Verizon was the first company to introduce wide area wireless broadband network in US and also offered the first wireless 3G multimedia services to its customers. Later on, the mobile service offered by the company also attracted numerous customers which further boosted its competitive position in the industry (Verizon-b, 2010).
With time, many new entrants entered this industry, taking the competition to an altogether new height. Spring Nextel, U.S. Cellular, AT & T, Leap Wireless are few of the companies that pose as major competitors of Verizon. To retain its competitive position along with the market share, Verizon is in the process of introducing 4G network technology to further
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Financial Analysis The company earned $88,000 million USD in the 2006 period, increasing yearly reaching $106,000 in 2010. Across the same period of time, the assets of the company also significantly increased, beginning at $189,000 million and ending at $220,000 million in 2010.
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