Bids for India’s 4G spectrum auction reached almost 32 billion rupees, or $670 million, after just two days of bidding, the country’s Department of Telecommunications reported today.
The price for one set of licenses covering the entire country hit 23.53 billion rupees, or $501 million, in the first day of bidding. India officials said they have now completed 10 rounds of bidding.
Companies bidding for the 2.3 GHz BWA spectrum include San Diego-based CDMA chipmaker Qualcomm, who wants to use the spectrum to build out a TD-LTE network in India.
Qualcomm is competing against several other companies for the spectrum, including India’s top three telecommunications companies: Bharti Airtel, Reliance Communications and Vodafone Essar.
Qualcomm could leverage its considerable cash holdings to finance its bid to further penetrate the Indian market. The company has more than $18 billion in cash, cash equivalents and marketable securities, according to a recent SEC filing.
The BWA auction began less than one week after India’s Department of Telecommunications wrapped up the country’s 3G spectrum auction to the tune of 677 billion rupees. Vodafone Essar, Bharti Airtel and Reliance Communications landed key 3G licenses but no single carrier won a single license covering the entire country.
Filed Under: Infrastructure
