Chunghwa Telecom Co (中華電信) yesterday said it saw no sign of a quick end to the 5G spectrum auction after total bids soared above NT$100.5 billion (US$3.34 billion) in the latest round.
The auction completed the 190th round of bidding yesterday, with bids spiking NT$3.5 billion in a single round, as bandwidth demand from five bidders outpaced supply, the National Communications Commission said in a statement.
The bids for the most popular 3.5 gigahertz band have surged to NT$3.62 billion per unit, making it the most expensive 5G bandwidth in the world.
“We did not see any sign of an end. The auction should continue for a couple more [rounds]... The competition is very intense,” Chunghwa chairman Sheih Chi-mau (謝繼茂) told employees at a year-end party.
“As [some telecoms] are trying to leverage 5G to outpace rivals, demand is outgrowing supply. Some adjustments should be made,” Sheih said, without elaborating.
However, he said the company has deeper pockets than its competitors and would be the first carrier to launch 5G services in Taiwan, adding that it is creating a 5G ecosystem via the Taiwan 5G Alliance and Chunghwa Pilot Team.
The company has created a project management office to develop 5G applications tailored to consumers and corporate users, he said.
Chunghwa is planning to commercially launch 5G services in July. The company has earmarked NT$60 billion to spend on 5G deployment and an ecosystem over five years.
Talking about this year’s focus, Sheih said the company’s top priorities are corporate transformation and 5G deployment.
A restructuring program would be implemented this year, he said.
He also said the board of directors has approved a 3 percent wage hike.
The company plans to recruit 3,000 people this year to cope with retirement applications as well as experts to support its multimedia-on-demand business and emerging services including artificial intelligence, virtual reality and data centers.
The company expects about 4,000 of its employees to apply for retirement in the next three years.
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