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Verizon's (NYSE: VZ) future growth will come from things like the Internet of Things (IoT) and over-the-top (OTT) mobile video--things that some other companies are not even investing in today, the company's CFO Fran Shammo said during an investment conference on Monday.
"It's not just going to be about the net adds anymore," he said at the Morgan Stanley Technology, Media & Telecom Conference 2015. Things like the IoT and products like its "mobile first" OTT video offering due to launch this summer are going to contribute to revenue growth, he said, noting that the IoT is growing almost 45 percent year-over-year. "This is a tremendous growth not only for Verizon, but also for the industry," he said.
In a session that touched on everything from net adds to net neutrality and Google's (NASDAQ: GOOG) (http://www.fiercewireless.com/story/googles-pichai-confirms-company-will-launch-mvno-coming-months/2015-03-02) upcoming MVNO, Shammo also made it clear that Verizon is standing behind its ever-important network.
He said there are a lot of claims being made by a lot of people around network quality in the consumer market, and Verizon is trying to send a message about how its network is different. "I think consumers are getting confused about network quality. Really what we're driving now is to say,...