Coverage is one of the most important elements of a good network and Telstra Corporation’s 5G rollout achieved a substantial breakthrough by covering 50% of Aussies with their network. Two weeks ago Telstra announced that it has entered into a contract agreement with Motorola Solutions to build a government radio network in Tasmania. Now, the company stated that they have over 750,000 5G devices that are on their network and several thousands are being added every week.
Australia is now home to 2,650 Telstra 5G sites that span across over 100 cities and towns. Telstra is planning to continue its expansion and achieve a 75% coverage of the entire population of Australia by June this year. Telstra share performance has been a much talked about topic off late, but it has however fared much better than it did prior to October 2020.
On the back of this announcement, the Telstra share price jumped about 4% and it looks like the market had already half expected the successful Telstra 5G rollout. Going forward, it may be worth keeping an eye on how many 5G devices enter the Telstra 5G network as a sudden uptick in the number may result in some upward momentum for the Telstra share price.
Shares in Value will continue to monitor the stock and other stocks in the telecommunications space that have fared better than Telstra.