Samsung Electronics wins US$ 6.6 billion deal to supply Verizon with 5G equipment
- 4 years ago
삼성, 미국 5G 시장 본격진출…8조원 규모 5G 장비 계약
South Korean tech giant Samsung Electronics has signed one of its biggest 5G contracts to date.
It's agreed to be paid six-point-six billion dollars to provide 5G equipment to the U.S. telecom company Verizon through the end of 2025.
American companies are looking for new partners now that the Trump administration is restricting business with the Chinese company Huawei.
Eum Ji-young has more.
Samsung Electronics is about to greatly expand its presence in the U.S. market for 5G networking gear.
The company announced on Monday that it's sealed a six-point-six billion dollar deal with the U.S. wireless carrier Verizon.
Samsung will provide Verizon with mobile communications solutions over the next five years under one of Samsung's biggest 5G deals to date.
Companies in the U.S. have been looking for new partners as the Trump administration cuts them off from trade with the Chinese firm Huawei.
"Samsung is apparently benefiting from the U.S. government's sanctions on Huawei. This is likely to work to the benefit of South Korea's economy. Many 5G parts makers in South Korea will benefit from Samsung's deal with Verizon."
The U.S. is the world's biggest market for 5G equipment, accounting for 25 percent of global sales, and Verizon is the number one American wireless carrier with about 94 million subscribers.
Recent data from U.S.-based market tracker Dell'Oro Group said that in the global market for 5G network equipment, Samsung had a share of 13-point-2 percent as of the first quarter of 2020. Huawei had the largest share with almost 36 percent followed by Ericsson and Nokia.
Samsung was also selected in June as the 5G equipment provider for Canadian telecom company TELUS.
Eum Ji-young Arirang News.
South Korean tech giant Samsung Electronics has signed one of its biggest 5G contracts to date.
It's agreed to be paid six-point-six billion dollars to provide 5G equipment to the U.S. telecom company Verizon through the end of 2025.
American companies are looking for new partners now that the Trump administration is restricting business with the Chinese company Huawei.
Eum Ji-young has more.
Samsung Electronics is about to greatly expand its presence in the U.S. market for 5G networking gear.
The company announced on Monday that it's sealed a six-point-six billion dollar deal with the U.S. wireless carrier Verizon.
Samsung will provide Verizon with mobile communications solutions over the next five years under one of Samsung's biggest 5G deals to date.
Companies in the U.S. have been looking for new partners as the Trump administration cuts them off from trade with the Chinese firm Huawei.
"Samsung is apparently benefiting from the U.S. government's sanctions on Huawei. This is likely to work to the benefit of South Korea's economy. Many 5G parts makers in South Korea will benefit from Samsung's deal with Verizon."
The U.S. is the world's biggest market for 5G equipment, accounting for 25 percent of global sales, and Verizon is the number one American wireless carrier with about 94 million subscribers.
Recent data from U.S.-based market tracker Dell'Oro Group said that in the global market for 5G network equipment, Samsung had a share of 13-point-2 percent as of the first quarter of 2020. Huawei had the largest share with almost 36 percent followed by Ericsson and Nokia.
Samsung was also selected in June as the 5G equipment provider for Canadian telecom company TELUS.
Eum Ji-young Arirang News.