"This win with Verizon is a vote of confidence in our ability to deliver," said Mike Iandolo, president of the wireless network product division.
Ericsson also sees the Verizon deal as a springboard for future LTE contracts. It is important to get a good start, according to Johan Wibergh, senior vice president and head of Business Unit Networks at Ericsson.
"Verizon are very well known for having high demands on quality. It is also a new customer for us," said Johan Wibergh.
Up until now Verizon has been working with six potential suppliers, and they all did quite well, according to Lynch.
"We felt that in terms of immediate performance -- meaning today's performance, as opposed to potential performance in the future -- and pricing the two we selected where the right ones to go with," said Lynch.
Alcatel-Lucent and Ericsson will get one each of the first two markets, and then Verizon will spend the first few months next year observing the capabilities and capacities of each of the vendors, according Lynch. Adjustments to the deal will be made based on which of the vendors is best positioned to accelerate the delivery of the network, he said.