New Delhi: The 5G spectrum auction which was held for the last 7 days ended yesterday. A total of Rs 1.5 lakh crore was sold. Reliance Jio has topped the list with Rs.88 thousand crores.
4G spectrum service is now in use in the telecommunication industry. The next step is to introduce 5G service. If it is used, the internet speed of cell phones will be 10 times higher. In an environment where modern technologies such as self-driving cars and artificial intelligence are emerging, the need for 5G service is considered important. The service is expected to be launched in major cities in October.
For this, the 5G spectrum auction started on 26th. The telecom department decided to auction 72,098 MHz (72 GHz) of spectrum in 10 bands for 20 years. Its base value is Rs.4.3 lakh crore. Reliance Jio, Bharti Airtel, Vodafone Idea and Adani Data Networks participated in the 5G spectrum auction.
In this case, the auction ended yesterday, the 7th day. Of this, only 51,236 MHz (71%) out of 72,098 MHz were sold for Rs 1 lakh 50 thousand 173 crore, according to Union Telecom Minister Ashwini Vaishnav.
It has been reported that Reliance Jio led by Mukesh Ambani has bid for 24,740 MHz for Rs.88,078 crore, Airtel led by Sunil Bharti Mittal has bid for 19,867 MHz for Rs.43,084 crore, Vodafone Idea for Rs.18,784 crore and Adani Data Networks for 400 MHz for Rs.212 crore. Adani is said to have bid only for private services and not for public services.
Sources in the central government said that the work of compiling the information related to the 5G auction is in progress and an official notification regarding this will be released soon.