To date, Verizon has ridden millimeter wave-based 5G coverage to the top in 5G network performance. However, as the network continues to evolve, we are beginning to see some changes. The latest performance report from network tester Ookla, covering the last three months of 2020, highlights.

According to Ookla, AT&T's 5G was the reigning champion in the fourth quarter of last year; Ookla rated Verizon as the best 5G network in the third quarter of 2020, with Verizon's speed score as high as 792.5. This was better than AT&T's next best score of 65.22. [However, in Q4, AT&T's 5G speed score rose to 75.59 and Verizon's plummeted to 67.07.

The significant drop in Verizon's score can be attributed to Verizon's broader deployment of its 5G network in more markets; in October, with the launch of the iPhone 12, Big Red went beyond mmWave 5G to include sub-6Hz frequency bands in its network . This kind of 5G covers more people, and while Verizon says its 5G network now reaches 230 million people, it is much slower than mmWave; according to Ookla, as more people use the slower network, the speed score drops.

This overall drop in speeds currently puts Verizon at the bottom of the 5G pile, behind T-Mobile and Sprint (both measured separately despite their 2020 merger). In overall LTE and 5G performance, Ookla ranked AT&T #1 for the eighth consecutive quarter; T-Mobile, Sprint, and Verizon round out the top of the latest rankings.

It remains to be seen if AT&T and T-Mobile's scores will similarly decline as more people join the 5G revolution. As for carrier 5G performance, 2021 is shaping up to be an interesting year.