New for subscribers: AT&T's Jeff McElfresh warns 5G iPhones may not be 'massive event,' says engineers are working on 6G Check out CNBCPro today.
AT&T Communications CEO Jeff McElfresh says 5G adoption may be muted by the recent pandemic job losses and higher costs of unlimited 5G data.McElfresh defended DirecTV acquisition because the cash flows from the deal helped AT&T invest in fiber.. Alex Sherman will regularly speak with a business leader about decision-making, investing and industry news.
AT&T is focusing on three "core priorities" -- wireless, fiber broadband and next generation entertainment services, according to Jeff McElfresh, head of AT&T Communications. That's driven AT&T's push to divest assets, including potentially DirecTV and its advertising platform Xandr. Still, while AT&T is positioning its company around wireless and high-speed broadband, Apple's 5G iPhones, expected to be announced in October, may not be the major event many are expecting. Economic challenges during Covid-19 quarantines may cause fewer people to upgrade immediately, said McElfresh. If you're not in a hurry to upgrade to 5G, McElfresh shared some additional news -- AT&T engineers are already working on 6G.
McElfresh also defended AT&T's decision to buy DirecTV in 2015 for $49 billion while acknowledging consumers now view satellite TV as "old technology."
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