Bharti Airtel and Reliance Jio plan to invest around $2 billion in new 5G equipment to improve their mobile broadband networks as more people are using smartphones that support 5G technology, according to sources.
Airtel, led by Sunil Mittal, has started the process to purchase more 5G gear, while Mukesh Ambani’s Jio is talking to global suppliers. Sources say Ericsson and Nokia will likely provide most of the new 5G base stations, with some deals possibly going to Samsung.
Both Airtel and Jio are expected to spend about $1 billion each on this new 5G equipment, mainly for radio base stations. An Airtel spokesperson confirmed ongoing discussions with business partners but did not provide specific details.
Jio, Nokia, Ericsson, and Samsung had not commented on the matter by the time of reporting. After heavy spending on 5G gear in 2022 and starting 5G services in October last year, both companies have slowed their expansion due to limited opportunities to make money from the new technology so far.
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