Verizon Wants to Improve the Economics of the Internet of Things

RACHAEL KING | March 1, 2016

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Verizon Communications Inc.VZ +0.75% announced plans to adapt its current telecommunications network to connect a range of sensor-embedded devices at a lower cost, improving the economics associated with the Internet of Things.The service provider is making it cheaper to build devices for the so-called Internet of Things and reducing the access charges associated with connecting these devices to its 4G LTE network, said Mike Lanman, senior vice president of enterprise and IoT products at Verizon, speaking at an event Wednesday at the company’s San Francisco Innovation Center.Verizon also launched ThingSpace, an integrated IoT development platform that spans devices, applications and the network. Developers create applications on ThingSpace, while customers can use this platform to manage their devices.

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