Late in 2020, the Federal Communications Commission held an auction to sell the rights to use the airwaves for 5G. The bidders included the big three cellular carriers Verizon (NYSE: VZ), AT&T (NYSE: T), and T-Mobile (NASDAQ: TMUS). Each took home a swath of the airwaves, but the biggest winner was Verizon. The company will pay $45.5 billion for its share of the rights.
5G, or fifth generation, advances the capabilities of 4G LTE, which improved speeds over previous generations and gave us video on our smartphones. With 5G, consumers can access data speeds 10 times faster than 4G LTE and new zero latency or buffering to all of their devices.
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Source Fool.com