Five G is Australia’s last chance to deliver universal high-speed broadband to all Australians, according to Chinese telco giant Huawei, which says that Australia is already being left far behind in the global race to deliver 5G technology.

Sixty-six percent of organisations have plans to deploy 5G by 2020, but according to a new report users adopting 5G face the lack of readiness of telecommunications providers, with their 5G networks not available or capable enough for the needs of organisations.

Telstra has suffered a sharp fall in profits for the second year running, with the big telco hit with a 9% fall in net profits for the full-year 2018 to $3.5 billion, according to results released on Thursday.