Deutsche Telekom shares rise as T-Mobile announces 5G network plans

Deutsche Telekom shares rise as T-Mobile announces 5G network plans

Deutsche Telekom shares are in the green as US wireless business T-Mobile – a subsidiary of the German company – announced its plans to provide 5G across 30 US cities. T-Mobile told Mobile World Congress delegates it will work with Ericsson and Nokia.

By 1200 BST, Deutsche Telekom shares were 0.11% higher at €13.30, losing a little ground from higher levels earlier in the session. T-Mobile shares, meanwhile, closed down 1.91% at $59.94. Ericsson and Nokia shares were both in red.

T-Mobile US 5G plans

Speaking at the Barcelona event, T-Mobile said it plans to provide a 5G network to the US that will allow smartphones on the move, to make the most of the new capabilities 5G will bring.

“5G is a lot more than faster speeds,” T-Mobile said in a press release. “It enables brand new IoT experiences, massive connectivity, smart cities, decade long battery life, ultra-responsive networks and increased speed, but it’s more than that – to fully unleash 5G requires a nationwide network.”

“At T-Mobile, our vision of a 5G future keeps the customer front and centre, just like the way we built the nation’s fastest LTE network,” said Neville Ray, Chief Technology Officer at T-Mobile.

T-Mobile to work with European network tech providers

In order to get its 5G network up and running, T-Mobile is working with Ericsson and Nokia. Both firms provide technical network equipment and the new roll out of 5G should prove a positive time for them.

Ericsson said it will provide T-Mobile with 5G radio access products.

“We have been working in close partnership with T-Mobile on 5G for tests in the lab, field trials, and now initial deployment into the T-Mobile network,” said Ericsson VP and head of business area networks, Fredrik Jejdling. “Our 5G Platform enables operators like T-Mobile to launch 5G as quickly as possible.”

Nokia, meanwhile, said it would provide advanced radio access network support for T-Mobile’s 4G and 5G subscribers and will begin its work in the second quarter of 2018.

“We are excited to work with T-Mobile for their ground breaking nationwide 5G rollout,” said Rajeev Suri, Nokia’s president and CEO.

By Ilona Billington
Ilona is a freelance writer and editor with over 15 years experience reporting and writing about UK and European economics, real estate, financial markets and central banks.