5G spectrum auction ends with record bids worth over ₹1.5 lakh crore. Jio top bidder
The biggest ever spectrum auction in India ended on August 1. The seven-day auction saw record sale of 5G telecom spectrum worth over Rs 1.5 lakh crore.
In this auction, billionaire businessman Mukesh Ambani's company Jio made the highest bid to consolidate its leading position.
As per provisional figures, a total of Rs 1,50,173 crore bids were placed.
This auction amount of 5G spectrum capable of offering extremely high-speed mobile internet connectivity is almost double the Rs 77,815 crore 4G spectrum sold last year.
This amount is three times as against Rs 50,968.37 crore received from 3G auction in 2010.
Reliance Jio made the highest bid for radio waves offering connectivity at speeds nearly 10 times faster than 4G.
It was followed by Bharti Airtel and Vodafone Idea Limited.
Adani Group has bought 26 MHz spectrum to set up a private telecom network.
What is Electromagnetic Spectrum?
Signals are needed to connect cell phones and wireline telephone equipment from one end to the other.
These signals are carried over the airwaves, which are required to be sent on specified frequencies to avoid any kind of interference.
The central government owns all publicly available assets, including airwaves, within the geographical boundaries of the country.
What is 5G technology?
The fifth generation mobile network is called 5G.
The 5G network will operate in the millimetre-wave spectrum (30-300 GHz) which can send huge amounts of data at very high speeds.
It is the newest upgrade in Long Term Evolution (LTE) mobile broadband networks.
Internet speeds in the high-band spectrum of 5G have been tested to exceed 20 Gbps (gigabit per second).
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