The application of 5G network services in China will bring in $158.9 billion of added value in 2026, Zhang Zhiwei, marketing head of Ericsson Northeast Asia, said at a news conference on Dec 19.

5G communications will unleash huge business potential in the country over the next 10 years, he stressed.

According to Zhang, China is likely to lead the world in 5G application, accelerating its pace of commercialization.

Zhang predicted that the 5G networks will be put into commercial use in 2019 and go into large-scale deployment in 2020.

Ericsson is currently working with 38 carriers, 22 industrial partners, and 45 universities and institutes.

In a report the company released on Dec 19, it is estimated that the number of 5G users will reach one billion by the end of 2023.