In the fourth day of a 5G spectrum auction on Friday, India had attracted bids worth at least $19 billion as telecom companies fought for the airwave rights required for next-generation networks in the second-largest mobile market in the world.
One of the bidders for 5G airwaves was Reliance Industries’ (RELI.NS) Jio, along with rivals Bharti Airtel (BRTI.NS) and Vodafone Idea (VODA.NS), as well as Adani Enterprises Ltd. (ADEL.NS), owned by billionaire Gautam Adani.
By September of this year, the Indian government hopes to start rolling out 5G, which it claims can deliver data speeds around ten times faster than 4G.
Jio is anticipated to be the first carrier to introduce 5G services in India. Jio is backed by global digital giants Facebook (META.O) and Google (GOOGL.O).
Pressure has been applied to Airtel and Vodafone as a result of a price war that Jio started in 2016. Both companies have recently declared losses due to unpaid government spectrum fees, although recent increases in the cost of mobile data have gradually begun to assist Airtel in turning a profit.
Early in July, Adani declared that it had no intention of entering the consumer market and instead intends to offer solutions for personal 5G networks.
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