Verizon to spend $3 billion on upgrades, offerings
Verizon this week said it will spend $3 billion over the next two years to bring broadband networking to the mass market.

The investment will include two network expansions and the rollout of a service and product to help businesses and residences integrate and manage disparate communications devices and applications.

The new service, called iobi, is designed to utilize the carrier's wireline, wireless, data and IP networks to link a customer's various communication devices into a customized personal communications network.

A new product called Verizon One combines a DSL modem and wireless router with a touch-screen computer and a cordless telephone, and is configured for the iobi service.

The network expansions involve both Verizon's wireless and wireline networks. Verizon Wireless will expand its third-generation (3G) mobile data BroadbandAccess network nationwide over the next two years. In addition to its ongoing annual capital investment, Verizon will invest an additional $1 billion over the next two years to further deploy its Evolution-Data Optimized (EV-DO) broadband technology.