Synopsis “The reserve prices for 5G auctions are too high. Although the 5G auctions are not yet announced, the reserve price could yield a return on capital employed of only 7%,” the ratings firm said in a note on Wednesday after the government gave its nod on commencing 5G trials. Agencies Representative Image High price of 5G airwaves in India, willingness of users to migrate from 2G/4G to 5G and the capital expenditure that telecom companies will incur to deploy full-scale commercial 5G network are some of the unknown variables that need to be addressed before successful implementation of the next-gen technology, India Ratings and Research (Ind-Ra) said.