VENTURE CAPITAL POST

Two Republican senators are unveiling a new legislative proposal that would auction some US government-owned spectrum to bolster commercial wireless 5G networks.

The inaugural "standalone 5G" network will be released in 2024 as BT Telecom prepares ecosystem readiness and device compatibility following a successful trial.

Following Verizon, AT&T announced on Friday to conduct field test of 5G network by the end of this year. The fifth generation of mobile network will offer data transfer speed beyond current capacity in 4G network.

Vodafone Group is confident that as soon as 5G wave hits the world in 2020, Australia will be among the first few countries to adopt this new-age technology. The mobile operator's priority goals include customer satisfaction and customized plans, along with 5G launch. A 5G-friendly Australia will be seen as a super-speedy service that should eliminate all video buffering and enable super-fast downloads.

China's Huawei Technologies [HWT.UL], the world's second-biggest maker of network gear, is beefing up its patent portfolio ahead of 5G, the next generation of mobile equipment, its chief executive said on Tuesday.

Running short of dramatically new phone designs, leaders of the world's wireless industry agree their next big idea is 5G, shorthand for the fifth generation of networks they expect to have up and running by 2020.

Huawei Technologies Co promised to deliver fast 5G wireless connection service to its customers.