Thailand’s highly anticipated 2025 spectrum auction has concluded, injecting over THB 41.27 billion (approx. USD 1.12 billion) into state coffers and decisively reshaping the nation’s telecommunications landscape. The auction saw telecom giants AIS and True Corporation make massive investments to secure strategic frequency bands, further solidifying their market dominance. This move not only reinforces their 5G network capabilities for years to come but also signals a new era of intensified competition between the two remaining major players, significantly altering the spectrum portfolio of each operator.
The National Broadcasting and Telecommunications Commission (NBTC), Thailand’s telecom regulator, officially conducted the auction on June 29, 2025. The event, which focused on the strategic 850 MHz, 1500 MHz, 2100 MHz, and 2300 MHz bands, was a swift but high-stakes affair. As confirmed by the NBTC board, the results underscore a clear strategic push by the market leaders to enhance network capacity and secure long-term control over critical assets.
“Today, the Board of the National Broadcasting and Telecommunications Commission has acknowledged the results of the auction for the 850 MHz, 1500 MHz, 2100 MHz, and 2300 MHz frequency bands,” stated Clinical Professor Dr. Sarana Bunbaichaiyapruck, Chairman of the NBTC. He confirmed that the auction, which began at 9:30 AM and concluded by 10:48 AM, generated a total value of THB 41,273,960,346, exclusive of value-added tax, with the results set for formal certification on July 2, 2025.
The outcome paints a vivid picture of the current duopolistic market structure. Advanced Wireless Network Co., Ltd. (AWN), a subsidiary of AIS, emerged as the sole winner of the highly-prized 2100 MHz spectrum. The company secured three sets of frequency blocks covering 1965-1980 MHz paired with 2155-2170 MHz, representing a significant 30 MHz (2×15 MHz) of bandwidth. The winning bid for this “golden band” spectrum, known for its ideal balance of coverage and capacity, came in at a substantial THB 14,850,000,010.
Meanwhile, True Move H Universal Communication Co., Ltd. (TUC), part of True Corporation, made an even larger financial commitment, decisively winning two crucial bands with a combined investment of over THB 26.42 billion. True secured seven sets of frequencies in the 2300 MHz band (2300-2370 MHz), a 70 MHz block of high-capacity TDD spectrum, for the auction’s highest price of THB 21,770,000,168. This was a strategically vital win, as this band is a workhorse for its high-speed data services. Furthermore, True also captured four sets in the 1500 MHz band (1452-1472 MHz), a 20 MHz block used for Supplementary Downlink (SDL) to boost download speeds, for THB 4,653,960,168.
In a notable development, the 850 MHz band, a low-frequency band excellent for wide-area coverage, received no bids. This suggests that both major operators feel their existing low-band portfolios in the 700 MHz and 900 MHz ranges are sufficient for their national coverage strategies, prioritizing investment in mid-band spectrum for 5G capacity instead.
Analyzing the New Battlefield: Updated Spectrum Portfolios
This landmark auction has redrawn the map of spectrum ownership in Thailand. Here is a comprehensive analysis of each operator’s holdings and what it means for their competitive positioning.
AIS: Reinforcing Leadership with a Total of 1490 MHz
AIS continues to hold its position as the operator with the largest total spectrum bandwidth in Thailand. The addition of 30 MHz in the 2100 MHz band is a calculated move to bolster its network in dense urban areas, ensuring a superior user experience.
- Low-Bands (Coverage): 40 MHz of 700 MHz and 20 MHz of 900 MHz.
- Mid-Bands (Capacity & Speed): 40 MHz of 1800 MHz, a newly expanded 90 MHz of 2100 MHz, and a massive 100 MHz block of 2600 MHz (TDD).
- High-Bands (Ultra-High Capacity): 1200 MHz of 26 GHz (mmWave).
- New Total Spectrum: 1490 MHz
With a formidable 90 MHz on the 2100 MHz band, AIS can significantly enhance capacity and reduce congestion, providing a more robust service. This, combined with its 100 MHz of primary 5G spectrum on the 2600 MHz band, gives AIS an exceptionally powerful mid-band arsenal to serve the ever-growing data demands of its subscribers.
True Corporation: A Strategic THB 26B Defense, Holding 1350 MHz
While True’s total bandwidth remains at 1350 MHz, its massive investment was not about expansion but about strategic consolidation. The auction allowed True to convert uncertain, partnered spectrum rights into direct, long-term ownership, a move of immense strategic value.
- Low-Bands (Coverage): 40 MHz of 700 MHz and 30 MHz of 900 MHz.
- Mid-Bands (Capacity & Speed): 20 MHz of 1500 MHz (SDL), 40 MHz of 1800 MHz, 60 MHz of 2100 MHz, 70 MHz of 2300 MHz (TDD), and 90 MHz of 2600 MHz (TDD).
- High-Bands (Ultra-High Capacity): 1000 MHz of 26 GHz (mmWave).
- Total Spectrum: 1350 MHz
The critical takeaway for True is securing direct ownership of the 70 MHz block in the 2300 MHz band, which was previously operated under a partnership with National Telecom (NT). This eliminates long-term uncertainty and gives True full control over a core component of its 4G/5G data network. Similarly, winning the 1500 MHz SDL band ensures it can continue to leverage this asset to enhance download speeds for its customers. The THB 26.42 billion investment was, therefore, a defensive masterstroke to protect its network’s key strengths and ensure stability for the future.
National Telecom (NT): A Pivot to a Specialized Role
For the state-owned National Telecom Public Company Limited (NT), the landscape is set to change dramatically. Following the conclusion of existing agreements around August 3, 2025, NT’s spectrum portfolio will be significantly streamlined.
- Future Holdings: 10 MHz (2×5 MHz) of 700 MHz and 400 MHz of 26 GHz.
- Total Spectrum: 410 MHz
This reduced portfolio, critically lacking a substantial mid-band allocation, signals a strategic pivot. NT is expected to transition away from mass-market mobile competition and focus on providing wholesale network services, catering to government agencies, and serving niche enterprise markets. This aligns with the evolving role of state-owned telecom entities globally.
Broader Implications: A Duopoly Digs In for the Future
The auction’s outcome has far-reaching consequences for the market.
First, for consumers, the intensified competition between two well-funded giants will likely translate into better service quality, faster 5G speeds, and continued aggressive pricing and promotional offers. The network investments are a direct commitment to enhancing the end-user experience.
Second, for the industry, the Thai telecom market is now more firmly entrenched as a duopoly. The sheer scale of investment required to compete raises the barriers to entry to an almost insurmountable level for any potential new player, solidifying the market positions of AIS and True.
Finally, for Thailand’s digital economy, this investment is a massive vote of confidence. A robust, high-capacity 5G infrastructure is the backbone for innovation in areas like IoT, smart cities, advanced manufacturing, and next-generation digital services. This strengthens the foundation upon which Thailand can build its digital future.
While this auction settles the near-term spectrum questions, all eyes will now turn to the future, particularly to the potential auction of the globally-standard 3.5 GHz (C-Band) spectrum. When and how that band is released will write the next chapter in Thailand’s compelling telecommunications story.
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