Cellular companies such as Verizon are looking to challenge traditional cable companies with residential internet service that promises to be ultra-fast, affordable and wireless.  

Using an emerging wireless technology known as 5G, Verizon's 5G Home service provides an alternative to cable for connecting laptops, phones, TVs and other devices over Wi-Fi. It launches October 1, 2018 in four U.S. cities.  

Verizon won't be matching cable companies on packages that also come with TV channels and home phone service. But fewer people have been subscribing to such bundles anyway, as they embrace streaming services such as Netflix for video and cellphone services instead of landline.  

"That's the trend that cable has been having problems with for several years, and a trend that phone companies can take advantage of," Gartner analyst Bill Menzes said.  

That's if the wireless companies can offer a service that proves affordable and effective.  

T-Mobile and Sprint are also planning a residential 5G service as part of their merger proposal, though few details are known.  

Verizon's broadband-only service will cost $70 a month, with a $20 discount for Verizon cellular customers. According to Leichtman Research Group, the average price for broadband internet is about $60, meaning only some customers will be saving money.