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Verizon Wireless customers are experiencing slow network speeds because people in cities like New York, San Francisco and Chicago are using more data than its infrastructure can handle, an executive for the company said on Tuesday.
As a result, many smartphone users are being pushed off Verizon’s LTE network down to its older, slower 3G network, according to Verizon Chief Financial Officer Fran Shammo.
Verizon, which has the largest and longest running LTE network in the U.S., is taking steps to fix the problem, Shammo says. The company will pump an extra $500 million into infrastructure development this year.