The FCC has revealed the end of the 5G spectrum auction in the 24 GHz band by raising $1.988 billion for the millimeter wave (mmWave) band for 5G services.
FCC said bidders won 2,904 of 2,909 available 5G licenses during the clock phase of Auction 102 that ended on April 17 after 91 rounds of bidding over 25 days.
Some of the qualified bidders include AT&T, Docomo Pacific, T-Mobile, US Cellular, among others, an earlier document from FCC indicated.
The first day of the FCC’s Auction 102 for spectrum at 24 GHz had closed with $304 million raised in bids for the millimeter wave (mmWave).
Analysts said the results of both Auction 102 and Auction 101 provide a clear indication that the wireless industry views millimeter wave spectrum as an important part of the country’s 5G future.
Auction 102 offered up to 700 MHz of 24 GHz spectrum in markets covering the entire US, and follows a similar auction of 28 GHz spectrum in a smaller number of markets that ended in January 2019 (Auction 101).
Winning bidders will now have the opportunity to bid for frequency-specific licenses in the assignment phase of Auction 102.
FCC said on Wednesday that it will release a public notice soon announcing further details regarding the assignment phase, including the date and time when bidding in the assignment phase will commence.