Verizon CEO: This is our peak year for network investments

Verizon has no plans to cut investment in network infrastructure, even though a recession is approaching.

According to Verizon CEO Hans Vestberg, the company has been planning how to invest in the network for the past 6-7 years. He also added that this is the company’s peak year. Investments in the company will amount to about 22 billion. And one part of the investment will be directed to conventional business, and the other part to the new spectrum, which the company bought last year. He notes that nvestments in the company occur relatively often.

To offset the increase in capital expenditures, the company has announced separate price increases this year. These price increases vary by subscription plan.

Verizon shares fell more than 4% on Friday after the company reported a drop in subscribers. Vestberg noted that the drop in subscribers was expected after the price changes were made, and stated that it should smooth out over time.

As claimed by Hans Vestberg, the company has made a decision to adjust prices in certain consumer segments, and he says that now is the best time to do it.

Despite the current risk of a recession driven by the Fed's policies, the Verizon chief shares the hope that their core business will be resilient.

According to Hans Vestberg, mobility and the ability to connect is extremely important for everyone nowadays, and Verizon is the company that can provide people with what they need.