Indian telecom firms bid $19 billion in 5G auction

Telecom operators in India bid slightly over $19 billion in the government auction for the 5G airwaves, the highest from them in any spectrum sale.

The government said that Reliance Jio Infocomm and other companies made most of the bids, which exceeded their expectations. A person familiar with the matter said that Reliance Industries was the most aggressive bidder. Results are expected later today.

Even as India is the second largest wireless market, it has been slow in comparison to other markets in setting up the networks for the roll out of 5G technology, which carriers across the globe say offer significantly faster data speeds and could play an instrumental role in applications around innovations in self driving and

Telecom operators may be able to persuade consumers to pay more for data by offering faster speeds.

India hopes that residents in several key cities will be able to experience the faster internet experience by the end of the year, as it expects the roll out of 5G networks to begin in October. The allocation is expected to be completed in August, according to the minister.

For the past two years, phonemakers have been selling 5G capable phones in India. According to Counterpoint, they have shipped over 50 million 5G compatible phones in the South Asian market, a fifth of which arrived in the quarter that ended in June. India is one of the fastest growing markets for mobile devices.

The story is evolving. You can check back for more information.