US reaps nearly $45 billion in wireless spectrum auction
The Federal Communications Commission said the auction ended Thursday raised $44.89 billion, the highest amount ever for this type of sale.

The Federal Communications Commission said the auction ended Thursday raised $44.89 billion, the highest amount ever for this type of sale.
The auction comes amid huge demand for spectrum to meet the needs to people using smartphones, tablets and other devices that connect to the Internet such as cars, refrigerators and wearable gadgets.
The move adds 65 megahertz of spectrum "to improve wireless connectivity across the country and accelerate the mobile revolution that is driving economic growth and improving the lives of the American people," FCC chairman Tom Wheeler said.
"The results of this auction confirm the strong market demand for more spectrum."
The FCC did not disclose details of the winning bids but said $20 billion would go to reduce the federal deficit and additional amounts would fund broadband public safety network and emergency communications.
Meredith Attwell Baker, president of the CTIA Wireless Association said that the auction "is only the first step to unlock more mobile investment and benefits" and said wireless companies would begin investing in fifth-generation networks for improved communications for mobile devices.
Gary Shapiro, president of the Consumer Electronics Association said that with demand surging for mobile broadband, the FCC should "help expand access to even more licensed and unlicensed spectrum."
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.