Samsung announced that it is developing "5G" wireless today. The new 5G wireless will be hundreds of times faster than 4G, today's gold standard.

The final execution of 5G wireless will be at least seven years away, which, in tech, is a long time. Still, the development is a milestone.

Samsung has a major stake in faster bandwitdth because it makes TVs, and ultra high definition TV is a highly anticpated, desired commodity. The new technology is currently more theoretical than actual because the files that would be used are simply too large. But a faster "5G" network would allow streaming times to be much shorter.

Samsung also says a faster wireless network will help medical services and hospitals, since doctors could use high-resolution images more easily and work remotely. The company also wants to expand into health care technology more, so it aligns with this goal. The year they hope be considered a heavy hitter in the medical technology field is, not coincidentally, the same as the 5G bandwidth is expected to be done-2020.

Previously, wireless was developed by multiple companies, generally consortiums that included a heavy hand from actual providers. Therefore, Samsung's 5G wireless announcement indicates that innovation is moving away from third-party groups and directly to manufacturers of devices. And, in addition, bandwidth is, in itself, a lucrative business, allowing new equipment and businesses to grow.

Similar initiatives include  Alcatel-Lucent's ultra-fast landlines in France and Google Fiber, which currently provides gigabit Internet to Kansas City, MO. Austin, Tex., and Provo, Utah are slated to be the next cities to benefit. It will help these cities' economies because new businesses thrive from more bandwidth. Thus, getting it there is a highly lucrative business.

 According to Samsung, its new 5G technology is the first adaptive array transceiver technology in the millimeter high-frequency wave band for cellular communications.