Mike Sievert, CEO of T-Mobile, outlined his vision for the next decade on Monday, telling CNBC that he believes his company can lead the way in 5G for the next decade.
“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’ll be able to make money … decade,” Sievert said in an interview with “Mad Money” presenter Jim Cramer, “We’ll keep that 5G lead for the entire 5G decade.”
T-Mobile has seen its share price rise after the company made early investments in the new network infrastructure that represents the fifth generation of wireless connectivity.
The company currently says it has 5G coverage for 295 million people in 1.6 million square miles. Sievert said the future is pure 5G mobile internet. The company expects to increase the range of its Ultra Capacity 5G product by about 40% this year.
“We’re covering 140 million people today, compared to 4 or 5 million for the others, and we’ll be at 200 million by the end of this year,” Sievert said. “That puts us years ahead of the rest,” he said.
T-Mobile shares slipped 0.69% on Monday, closing at $ 143.51. The share price rose more than 6% in 2021, slightly outperforming the 1.11% increase at AT&T and the 2.64% decrease at Verizon year-to-date.