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It's hard to deliver both higher speed and longer range, because higher frequencies don't reach as far and don't penetrate walls as well.

But what I read about 5G is that its range is comparable to wifi.

Why do they do that?

AFAIK, the speed is >gigabit fast, but to achieve that speed you need to have super high frequencies and hence smaller range.

To me, it seems inconvenient as a replacement for 4G. However it is also being used for other applications; like self-driving cars[1].