The Federal Communications Commission has wrapped its first high-band 5G airwaves auctions, selling off $2.7 billion worth of millimeter-wave high-bandwidth spectrum in the 24 GHz band.
The auctions of the 24 GHz and 28 GHz bands raised over $2.7 billion in gross bids and aimed at making spectrum available for 5G wireless, internet of things and other spectrum-based services.
Fifty-five applicants were qualified to bid, and the winning bidders won 5,869 licenses, FCC said in a May 28 release.
“American leadership in 5G means deploying more airwaves for the next generation of wireless connectivity,” Chairman Ajit Pai said in a statement. “The successful conclusion of our nation’s first two high-band flexible, mobile-use spectrum auctions is a critical step. By making more spectrum available, we’ll ensure that American consumers reap the substantial benefits that 5G innovation will bring and we’ll extend U.S. leadership in 5G.”
In December, the commission will kick off an auction that includes the upper 37 GHz, 39 GHz and 47 GHz bands. FCC said it will be the largest spectrum auction in U.S. history.