Not quite cheap, but cheaper.
Telstra’s new 5G modem is its cheapest yet
Telstra has added the $399 Inseego MiFi X Pro 5G to its range of 5G capable hotspots, giving it the cheapest portable 5G modem available through a telco.
Big T will sell you the MiFi X Pro 5G outright for $399. Alternatively, you can pay it off on a 12, 24, or 36-month term. On a 24-month plan, it will set you back $16.62 per month on top of your Telstra mobile broadband bill.
Here's Telstra's current range of SIM-only mobile broadband plans. If you want 5G speeds, you'll need to opt for the 75GB plan or better. If you're actually looking at replacing your home internet connection, you'll almost certainly want the 400GB plan.
For comparison, Telstra's next cheapest modem is the $549 Netgear Nighthawk M6. Paying an extra $50 will get you the Telstra 5G Wi-Fi Pro, which also supports mmWave 5G. Optus' only 5G portable modem will set you back $434 over your payment term - Optus doesn't have outright options available at the moment.
Other than a cheaper than usual price tag, the Inseego MiFi X Pro 5G seems to be a fairly typical 5G portable hotspot. It supports up to 32 devices over WiFi 6, has a 5,050mAh battery with fast charging said to last all day, and there's even an Ethernet port for connecting wired devices. When 5G is unavailable, the Inseego MiFI X Pro 5G will fall back to 4G.