I would like to buy an unlocked phone which is compatible only with LTE band 7 (but not the other LTE bands that Fido uses), so I am wondering how is he coverage of band 7 (i.e. what is the approximate ratio of towers using band 7 vs other bands) in the GTA/southern ontario.
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I'm not sure whether the ratio of towers using a particular band is a very useful measure. Coverage depends on corresponding bands/frequencies available at your surrounding cellular towers. Even with a favorable ratio, it's possible your area cellular towers do not use that particular band . It might more useful to note the bands/frequencies use at your surrounding cellular towers. You can get an idea of your surrounding cellular towers here.
It should be noted that the different bands/frequencies have varying characteristics. For example, the higher frequencies generally have a greater potential bandwidth than the lower frequencies (see table here). On the other hand, the higher frequencies tend to decay faster. That is, they do not travel as far, nor penetrate as well as the lower frequencies (see graphic here).
So in a highly urbanised area like the GTA, the large number of buildings could act to limit the effectiveness of the higher frequency of band 7.
So that phone should work on the LTE network. However, I personally wouldn't chose a phone with a limited band/frequency compatibility.
Hope this helps 😀