The process of developing 5G technology is still a work in progress for all major carriers as spectrum, bands and chipsets have to be figured out. But T-Mobile is leading the pack with its newly acquired 600 MHz spectrum, an $8 billion investment. This will provide the U.S. and Puerto Rico with 5G coverage.

The 600 MHz 5G network will allow T-Mobile to deliver increased radio efficiency, immense numbers of connected devices, lower latency and improve battery life and efficiency.

"5G will be amazing, and we can't even imagine all the cool stuff it will bring, just like with our earlier network innovations," said T-Mobile CEO John Legere. "That's why truly mobile 5G has to be nationwide — period, the end."

T-Mobile has already started slowly rolling out Gigabit LTE, the in-between step to a 5G network. This will allow it to have the infrastructure ready when 5G is ready to be deployed.

Expect T-Mobile's fully-functioning 5G network by 2020

T-Mobile's plan is to incrementally unveil its 5G network in the U.S. in 2019, with full nationwide coverage coming the following year. There are still a few obstacles T-Mobile needs to work out though. Phones will need to eventually include new chips and bands supporting the new network. T-Mobile expects the first smartphone to support 600 MHz spectrum to be released later this year.