T-Mobile CEO Mike Sievert on Monday laid out his vision for the next decade, telling CNBC that he believes his company can be the leader 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’re going to be able to monetize … this lead over the decade,” Sievert said in an interview with “Mad Money” host Jim Cramer. “We’re going to hold on to this 5G lead for the entirety of the 5G decade.”
T-Mobile has watched its stock rise after the company began investing early in the new network infrastructure, which is the fifth generation of wireless connectivity.
The company currently says it has 5G coverage for 295 million people across 1.6 million square miles. Sievert said the future was 5G mobile internet pure-play, adding that the company expects to increase the reach of its Ultra Capacity 5G product by about 40% this year.
“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.
Shares of T-Mobile slipped 0.69% on Monday to close at $143.51. The stock price is up more than 6% in 2021, handily beating the 1.11% rise in AT&T and 2.64% decline in Verizon year to date.
