Google confirmed Friday that it will bid in the upcoming Federal Communications Commission wireless auction in the 700MHz band, reports MediaPost.

Google's formal application came at the deadline for parties to declare intent to bid in the auction, which begins Jan. 24.

"We believe it's important to put our money where our principles are," said Eric Schmidt, chairman and CEO of Google, in a prepared statement. "Consumers deserve more competition and innovation than they have in today's wireless world. No matter which bidder ultimately prevails, the real winners of this auction are American consumers who likely will see more choices than ever before in how they access the internet."

Google sent an open letter to the FCC in July pledging to spend a minimum of $4.6 billion at the auction, if the agency agreed to require the winning bidder to operate the spectrum on a wholesale basis.

At the time, U.S. Federal Communications Commission Chairman Kevin Martin expressed doubts over Google's plan.