AT&T (NYSE:T) announced it is planning to increase its capital expenditure over the next three years in order to invest in advanced technology.
The plan, called Project Velocity IP, would invest $14 billion over the next three years. The wireless carrier said it intends to “support growing customer demand for high-speed Internet access and new mobile, app and cloud services,” in a press release.
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It would also entail increased investment in the 4G LTE network. Three hundred million people would be covered by the end of 2014. This would be carried out through more spectrum purchase. AT&T has acquired more than 40 spectrum deals this year.
According to the plan, the company would expand its U-verse reach, which includes television, internet and Voice Over IP by broadening its customer base. AT&T also plans to increase speeds across those platforms – up to 45Mbps.
With the aim to provide an IP based home security, it hopes to enable consumers to keep an eye on their homes from mobile devices. Other than joining the mobile valet game, AT&T intends to provide consumers the ability to expand its wireless connectivity to cars by 2016.
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