T-Mobile's CEO Says Company Is Set To Take Over 5G

T-Mobile CEO says the company is set to dominate 5G for the next decade.

Mike Sievert, CEO of T-Mobile, disclosed the company's plans to dominate the 5G sector in the next decade. In a Mad Money interview with CNBC, he said, “We’re making the rules for the 5G era because we’re way ahead ... and those rules are going to be customer friendly and we’re going to be able to monetize ... this lead over the decade."

According to Sievert, the company expects to increase the reach of its Ultra Capacity 5G product by about 40% before 2022.

The CEO explained his vision for the next ten years and reiterated that he is convinced T-Mobile is making the rules for this 5G era.

“We’re making the rules for the 5G era because we’re way ahead — and I mean miles ahead — and those rules are going to be customer friendly and we’re going to be able to monetize ... this lead over the decade,” Sievert said. “We’re going to hold on to this 5G lead for the entirety of the 5G decade.”

T-Mobile's stock has risen steadily since the company started early investing in a new network infrastructure, which is the fifth generation of wireless connectivity.

The company claims it has currently had 5G coverage for up to 295 million people across 1.6 million square miles. The CEO reveals that the company expects to increase the reach of its Ultra Capacity 5G product by about 40% this year, adding that the future of the internet was dependent on 5G.

“We’re covering 140 million people with that today, compared to like 4 or 5 million with the other guys, and we’re going to be at 200 million by the end of this year,” Sievert said. “It puts us years ahead of the other guys,” he said.

Founded in 1994, T-Mobile is currently the third-largest wireless carrier in the United States, with 103.4 million subscribers as of the first quarter of 2021, coming behind only Verizon Wireless and AT&T. 

In 2020, it finalized a merger with Sprint which was worth $26 billion. That same year, the company generated $68.397 billion in revenue. Its stock(TMUS) is currently trading at $145.26 on the NASDAQ stock exchange.