The Rest of the World Is Far Ahead on 5G – What Are They Telling Us?

5G “just got real” in the US. On almost any measure, developed markets in Asia and Europe are far ahead of the US (see WSJ article on China’s lead here). We will be hosting 5G pioneers from other markets around the world at our 5G Conference on November 17th. These companies will give us a glimpse into how 5G is impacting carriers in other markets, and what may be in store for the carriers in the US.

To register for the conference and for 1x1s, please click here.

For the list of speakers, please click here.

For the agenda, please click here.

With 300,000 5G cell sites, and with 18% of customers on 5G packages, China Telecom is part of the largest 5G deployment globally. Understanding 5G in China is crucial to understanding how the technology is set to be adopted and deployed elsewhere. (China Telecom is available for 1x1s)

South Korea is arguably the global leader in 5G deployment with over 90% coverage and 5G penetration already surpassing expectations. LG Uplus has been the industry leader in driving 5G take-up with differentiated service offerings appealing to consumers across the board. Insights into the type of 5G products and services being offered in Korea will be instrumental in understanding how 5G demand could play out in global markets. (LG Uplus is presenting at 8:40 AM ET).

Rakuten is building the world’s first fully virtualized network in Japan; their insights are always going to have deep resonance both for the Japanese market as well as greenfield players in other markets globally, particularly Dish. (Rakuten is presenting at 8 AM ET; Dish is presenting at 2:40 PM ET).

Hutchison UK has one of the largest slices of mid-band spectrum in the world, with 224MHz spectrum between 3.4-4.0GHz, and this has allowed it to be one of the first operators to launch a dedicated 5G fixed-wireless broadband service alongside its wireless 5G offering. Progress and success on this project are signs of the potential for FWB elsewhere globally. This will likely be a topic we focus on with both Verizon and T-Mobile, who have launched FWB offerings in the US. (Hutchison, aka Three UK, is presenting at 2:40 PM ET; Verizon at 3:10 PM ET; T-Mobile at 11:20 AM ET).

Swisscom is one of the few operators globally to charge for speed, not usage – Swisscom will therefore know better than most how to segment, market and monetize the higher speeds that 5G offers. In addition, its Italian subsidiary, Fastweb, is another of the pioneers of 5G Fixed Wireless Broadband, meaning that it is both poacher and gamekeeper in the battle for broadband access in a 5G world. (Swisscom is presenting at Noon ET).

TIM Brazil is perhaps the most innovative wireless operator in the LatAm region and will be an early mover once spectrum is issued in 2021. It is ideally placed, therefore, to talk about the potential revenue upside and capex risks arising from 5G in Brazil and EM more broadly. (TIM Brazil is presenting at 12:30 PM ET).

Full 12-month historical recommendation changes are available on request

Reports produced by New Street Research LLP. 52 Cornhill, London EC3V 3PD Tel: +44 20 7375 9111.

New Street Research LLP is authorised and regulated in the UK by the Financial Conduct Authority and is registered in the United States with the Securities and Exchange Commission as a foreign investment adviser.

Regulatory Disclosures: This research is directed only at persons classified as Professional Clients under the rules of the Financial Conduct Authority (‘FCA’), and must not be re-distributed to Retail Clients as defined in the rules of the FCA.

This research is for our clients only. It is based on current public information which we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied on as such. We seek to update our research as appropriate, but various regulations may prevent us from doing so. Most of our reports are published at irregular intervals as appropriate in the analyst's judgment. This research is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients.

All our research reports are disseminated and available to all clients simultaneously through electronic publication to our website.

New Street Research LLC is neither a registered investment advisor nor a broker/dealer. Subscribers and/or readers are advised that the information contained in this report is not to be construed or relied upon as investment, tax planning, accounting and/or legal advice, nor is it to be construed in any way as a recommendation to buy or sell any security or any other form of investment. All opinions, analyses and information contained herein is based upon sources believed to be reliable and is written in good faith, but no representation or warranty of any kind, express or implied, is made herein concerning any investment, tax, accounting and/or legal matter or the accuracy, completeness, correctness, timeliness and/or appropriateness of any of the information contained herein. Subscribers and/or readers are further advised that the Company does not necessarily update the information and/or opinions set forth in this and/or any subsequent version of this report. Readers are urged to consult with their own independent professional advisors with respect to any matter herein. All information contained herein and/or this website should be independently verified.

All research is issued under the regulatory oversight of New Street Research LLP.

© Copyright 2021 New Street Research LLP

No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of New Street Research LLP.