The Executive Yuan of Taiwan announced on December 8, 2010 that the government has decided to extend the 2G mobile communications license period from originally-planned 2012 and 2013 to June 2017, according to the Economic Daily News of Taiwan. It is reported that when the 2G licenses expire, all the 2G spectrums will be recalled, and 2G service will no longer be available in Taiwan. The government also announced that it plans to issue five new mobile communications licenses no later than July 2015, according to the same source. It is reported that the minimum bid price for each license is NT$10 billion (US$331.1 million; US$1=NT$30.2). The government expects that telecom operators intending to offer 4G service in Taiwan will participate in the upcoming spectrum auction. The auction is estimated to bring a total revenue of NT$50 billion (US$1.66 billion) for the Taiwan's government.