Verizon Wireless 2014 Annual Report Download - page 7

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As we saw in 2014, the new opportunities we’ve been
predicting for some time are becoming a reality. Through
Verizon Telematics, we are already one of the leaders in the
Internet of Things. We provide connectivity and telematics
to manufacturers such as Mercedes-Benz and Volkswagen
and help businesses manage large vehicle fleets more
efficiently. Revenues from this business and the Internet of
Things grew more than 45 percent year over year, to $585
million, and we continue to introduce a steady stream of
telematics services. For example, we announced a
consumer-oriented connected-car product called Verizon
Vehicle at the North American International Auto Show in
early 2015, which will launch commercially in the second
quarter. With an addressable market of 200 million vehicles
across the U.S., this product has the potential to reinvent
traditional roadside assistance services while enhancing
driver safety and convenience. Looking ahead, our
machine-to-machine platform gives us a launching pad for
growing our market position in such fields as the connected
home, e-commerce and retail, wearable computing and
energy, and utilities management.
We also have an expanding presence in the digital media
and entertainment space. Verizon Digital Media Services
helps more than 1,500 content companies deliver their
services in digital form to any screen or device, anywhere in
the world. We continually add features and functionality to
our FiOS TV service, and later this year we expect to launch
our own mobile-first video product, leveraging our 4G LTE
wireless network and large customer base to offer a
superior alternative to other over-the-top video services.
With these and other compelling new services in the
pipeline, we have a chance to disrupt other industries and
build businesses that can drive growth in the future, as
wireless and FiOS do today.
Financial strength
Among our leadership team we talk about the need to be an
“and” company that delivers both growth and profitability.
You can see the results of this balanced approach in our
financial performance in 2014. Operating revenues were
$127.1 billion, up 5.4 percent year over year. Adjusted
The Internet of Things is transforming people’s lives and changing the way businesses and institutions operate. Using secure network connectivity and
cloud infrastructure to interconnect machines and gather useful data, Verizon is enabling smart solutions like remote diagnostics, vehicle monitoring and
much more. To help our customers take advantage of IoT, Verizon’s rst “Internet of Things Report” explains factors driving adoption and oers forward-
thinking organizations recommendations on how to plan for IoT growth.
Visit verizonenterprise.com/products/m2m/ to learn more.
VERIZON COMMUNICATIONS INC. 2014 ANNUAL REPORT
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