The Federal Communications Fee has concluded bidding in its public sale of spectrum for 5G, a next-generation wi-fi expertise that guarantees super-fast speeds.
The FCC, which opened up bidding for spectrum within the 28GHz band in November, mentioned in a statement Thursday that the public sale raised a complete of greater than $702 million in gross bids. A complete of two,965 28GHz licenses have been gained.
The fee will subsequent maintain an public sale of spectrum within the 24GHz band. It will not disclose the successful bidders for the 28GHz band till the second public sale closes.
‘The profitable conclusion of our nation’s first high-band 5G spectrum public sale is a major step towards sustaining American management in 5G,’ FCC Chairman Ajit Pai mentioned in a statement. ‘The FCC will proceed to aggressively push extra spectrum into the industrial market.’
5G, the next generation of cellular technology, guarantees to spice up web speeds, protection and responsiveness for wi-fi networks. It will allow capabilities comparable to streaming HD movies in your cell community and accommodate extra web of issues gadgets.
Carriers have been locked in a race to maneuver to 5G. Final yr, Verizon began a restricted 5G home broadband service and plans to start mobile 5G service this yr. AT&T’s 5G network went dwell in choose cities in December, although clients can solely faucet into the community utilizing Wi-Fi hotspots.
Auctions for 37GHz, 39GHz and 49GHz spectrum bands can be held later this yr.