We have analyzed many times how critical it will be for operators to diversify their revenues if they are to achieve positive return on investment from 5G. A few operators will succeed in delivering revenue growth and stable profits by extending the conventional consumer-centric mobile broadband business model, but those will mainly be working in unsaturated markets, or able to consolidate in order to increase market share and economies of scale. For the rest, new revenue streams will be essential, and most of these will come from enterprise and industrial services. They might be focused on a particular sector, such as connected vehicles; or they might support a wide variety of private or semi-private networks for different enterprises; or some…