How will coronavirus toughen 5G race for US?

The coronavirus outbreak in China has sickened 40,000 people and is already expected to take a toll on the global economy ⁠— including the tech sector and game-changing 5G wireless networks.

Chipmaker Qualcomm, the U.S. leader in 5G, predicted during an earnings call last week that the virus outbreak will eat into its profits by impacting handset demand and supply chain.

Ticker	Security	Last	Change	Change %
QCOM	QUALCOMM INC.	169.20	+3.54	+2.14%
NOK	NOKIA OYJ	3.68	+0.03	+0.82%

Meanwhile, its 5G-capable competitors, Finland-based Nokia and China-based Huawei, could be impacted too, leading to a slowdown amid the push for 5G.

Some policymakers and tech experts have concerns that China will outrun the U.S. in what many have called the global "race to 5G." Tech giant Huawei has made significant strides in developing 5G-capable phones and wireless technology.

'TESLA OF CHINA' WARNS CORONAVIRUS WILL SNARL BUSINESS

While there is some argument as to whether the U.S. has fully adopted 5G wireless networks, most experts say it's here and ready to develop as the country's new wireless standard.

Some Americans witnessed the capabilities of 5G at Super Bowl LIV when Miami's Hard Rock Stadium was set up with the technology to give fans a new, interactive spectator experience.

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5G, or fifth-generation, technology has been in the works for nearly a decade, and limited service in select cities began rolling out as early as 2018, though the U.S. still has a long way to go to reach the full potential of 5G.

Verizon, AT&T and T-Mobile began offering 5G in more cities throughout the country in 2019, and the prevalence of the latest technology is expected to become increasingly common in 2020, especially in metropolitan areas.

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FOX Business' Audrey Conklin contributed to this report.