After the Alphabet Inc (NASDAQ:GOOGL) disappointment with its Fiber service in the Bay Area, Comcast Corporation (NASDAQ:CMCSA) has stepped in with its gigabit cable service. The company says that Bay Area residents should prepare to experience high consumer broadband speeds of up to 1 gigabit per second starting next year. Comcast did not, however, outline the exact date that it would roll out the service, but its spokeswoman Jenny Gendron confirmed that the service would be begin running throughout the Bay Area territory all at once.
The news of the new service comes at a time when residents are desperate for faster internet speed. The testing of the one gig service began last year in Comcast’s home base of Philadelphia. The company already has two gigabit Internet services. One of them uses cable while the other, which is for cities the likes of Oakland, Berkeley, San Francisco, and Emeryville, uses fiber only. However, what is being featured now uses existing cable lines to deliver 1Gbps download speeds.
Upgrades beginning to enter the market
One thing for sure is that the market is full of competition, of course at different prices for different customers. Comcast declined to reveal how much it will be charging for its gigabit service even though it confirms the $140 monthly charge for the service in Detroit without a contract. It will also have a three-year deal price with a introductory monthly fee of $70.
Nonetheless, it is likely to still be a superior service. Senior vice president of Comcast California Region, Hank Fore said, “The introduction of a new 1 Gig service in California is yet another reflection of our commitment to deliver the fastest speeds to the most homes.”
Competition by internet providers for significant technology
In recent years, the demand for internet streaming has grown. In response, Internet providers are taking the obligation of increasing the availability of high-speed services. However, with the 1 gigabit per second service, customers will need to have a modem that has the capability of transmitting that much data. It is already offering two-gigabit per the second service but only to corporate and professional clients.
Comcast’s stock closed at $61.47, witnessing an increase of $0.02 or 0.03%.
