Executive to oversee 5G strategy
T-Mobile (TMUS) hired former Ericsson (ERIC) executive Ulf Ewaldsson as its new head of technology transformation. In this position, Ewaldsson will drive T-Mobile’s 5G technology evolution strategy, the company said in a statement.
T-Mobile is preparing to start offering 5G services in the coming months when 5G-compatible phones become available. Verizon (VZ) and AT&T (T) began offering some 5G services in select cities in the United States last year.
Merger with Sprint
Last year, T-Mobile signed Ericsson and Nokia (NOK) for $7.0 billion combined to supply 5G equipment. T-Mobile seeks to merge with its rival, Sprint (S), and has committed to investing as much as $40 billion on network developments if it succeeds in closing the merger deal. US regulators are currently reviewing the merger proposal. T-Mobile and Sprint have argued that combining would allow them to create a stronger challenger to market leaders Verizon and AT&T.
At the same time, T-Mobile and Sprint have portrayed their merger proposal as important for ensuring that the United States leads the 5G network development race. China, Japan, and countries in Europe are also vying to lead the 5G network development race.
T-Mobile’s revenue rose 7.5%
T-Mobile generated $10.8 billion in revenue in the third quarter of 2018, representing an increase of 7.5% year-over-year. Wireless operators like T-Mobile are banking on 5G connectivity to enable them to create new revenue sources and expand existing ones.