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Deutsche Telekom CEO Touts 5G Mobile `Revolution' for Services

  • Tim Hoettges sees new revenue models for telecom carriers
  • Phone companies are seeking to monetize massive 5G investments
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Deutsche Telekom’s Hoettges claims the ultra fast fifth generation of wireless technology will be a "revolution."(Source: Bloomberg)

The ultra-fast fifth generation of wireless technology will be a “revolution” for the telecom industry, spurring new services and revenue models, said Deutsche Telekom Chief Executive Officer Tim Hoettges.

The German former phone monopoly will be able to monetize 5G network investments by providing dedicated software platforms to customers in industries from auto to health care and will benefit from revenue-sharing agreements, Hoettges said in an interview with Bloomberg TV in Munich on Sunday. He cited a sensor-based parking system in Hamburg, where Deutsche Telekom gets a cut of sales, as an example.