Telcos seek killer app to recoup billions spent on 5G

China Mobile, the world’s No. 1 carrier by subscribers, Verizon, the largest US operator and South Korea’s leader SK Telecom are among those building platforms based on virtual or mixed reality, a term that means blending the digital world with real-life environments. — 123rf.com

About a decade ago, mobile carriers poured billions of dollars into high-speed 4G networks only to see technology giants such as Apple Inc, Facebook Inc and Google walk away with most of the profits fuelled by social media. As operators plow even more cash into 5G, they are betting on a futuristic concept in hope of a fair share of the returns this time.

Telecommunications companies are looking to build a platform based on the metaverse, an idea that inspired Ready Player One and online games by market darlings such as Roblox Corp. Early-stage examples include virtual and augmented reality headsets or glasses that provide immersive experiences. Advanced versions — still years away pending super-fast wireless data speeds — combine multiple technologies like holograms to bring the Internet to life: 3D avatars of people working, interacting and relaxing in digital replicas of offices, factories and leisure venues.