Comcast Unveils A Wireless Service With Unlimited Data Plan

Looks like Comcast Corp wants a piece of the wireless market. The company released a wireless service on Thursday that comes with an unlimited data plan.

With this service, dubbed Xfinity Mobile, Comcast is now the first major U.S. cable provider to enter the wireless market.

The company’s unlimited data, talk and text will be available by mid-year for $65 per line for up to five lines, or $45 per line for customers with Comcast’s top X1 packages, which bundle TV, internet and phone services.

The service will launch on Verizon’s airwaves and will allow customers to switch automatically to Comcast’s Wi-Fi hotspots from 4G LTE. Comcast has had a MVNO agreement with Verizon since 2011.

The deal lets Comcast operate as an MVNO of Verizon Wireless, according to a Wall Street Journal article.

“It’s really anchored around value-add for the Comcast customer. We’re not taking on the entire wireless industry,” says Sam Schwartz, chief business development officer for Comcast Cable.

According to Schwartz, Comcast has 29 million customer relationships and is the largest residential Internet service provider in the country.

In regards to Verizon, Schwartz says, “every inch of their network will be available to our subscribers as well.”

Comcast will limit the service’s rollout to customers within its footprint, which includes major markets like Philadelphia and Chicago.

Shares climbed slightly higher in Thursday afternoon trading after the service was released.

Disclaimer: We have no position in Comcast Corporation (NASDAQ: CMCSA) nor Verizon Communications Inc. (NYSE: VZ) and have not been compensated for this article.