5G airwaves worth Rs 1,50,173 crore have been sold so far and the final count is being prepared by the government according to sources.
Day six of the 5G spectrum auction on Sunday saw an incremental increase in the bid figure after rounding 37, with bids worth Rs 1,50.130 crore.
According to industry analysts, Reliance Jio has placed bids for more than Rs 84,500 crore while
Vodafone Idea has placed bids of around Rs 18,500 crore, while a unit of
Jio and Airtel were busy bidding intensively in
Devroop Dhar, co-founder and board member of Primus Partners, said the auction is a testament to the industry’s readiness and readiness to expand further than ever before.
“That is also the reason why the major players end up opting for the 700 MHz bands. The 40 percent cut in the bands to Rs 3,927 crore per unit acted as a resource for the bidders,” Dhar said.
The expanded 700MHz band is built to cover densely populated regions such as India, which will really benefit from this band and receive expanded 5G coverage.
“As the bidding was much higher than in the previous auctions, the amount generated will contribute positively to the revenue and will help the government in setting up the 5G infrastructure in the future,” Dhar added.
While Reliance Jio may have the upper hand in terms of bundled handsets and their investments, other industry players also have the opportunity to compete in the industry as according to surveys, Indian consumers claim to be willing to pay 50 percent more for 5G. bundled plans.
“Therefore, the companies need to find an incentive to let their customers upgrade to 5G devices,” Dhar said.