What's new

Featured Samsung Wins $6.6 Billion 5G Verizon Deal While Huawei Struggles

Chhatrapati

ELITE MEMBER
Aug 4, 2016
10,675
-22
8,811
Country
India
Location
Mauritius
Samsung Electronics Co. won a 7.9 trillion won ($6.6 billion) order to provide fifth-generation wireless solutions to Verizon Communications Inc. in the U.S., a big win for the electronics giant’s networking gear business.



The contract was finalized Friday and is valid from June 30 through December 2025, it said in a regulatory filing.




The deal marks one of Samsung’s biggest 5G contracts since Korea’s largest corporation decided years ago to invest in networking and compete with global players like Nokia Oyj and Ericsson in providing telecom equipment. It should lift Samsung’s market share in the wireless industry at a time leader Huawei Technologies Co. is grappling with U.S. sanctions and Washington’s effort to get allies around the world to shut out the Chinese company.

Technology Gets Political
Position on including equipment from China’s Huawei in 5G mobile networks, as of July 15, 2020


bb.JPG


Nokia’s shares fell as much as 2.5% Monday in Helsinki. Liberum analyst Janardan Menon cited past evidence that the Finnish telecom gear giant is losing share at the largest American carrier to Ericsson, potentially hampering its longer-term investment in technology.

“With this latest long-term strategic contract, we will continue to push the boundaries of 5G innovation to enhance mobile experiences for Verizon’s customers,” Samsung said in an emailed statement.


Samsung, the world’s largest memory chip and electronics gadget maker, has been pushing hard to expand its market share in the 5G equipment market and investing in sixth-generation mobile networks. The company didn’t provide further details about the Verizon deal. The U.S. carrier gained much-needed mid-band spectrum for its 5G rollout after emerging among the top winners in a recent U.S. auction of airwaves.

 

vi-va

SENIOR MEMBER
Jan 23, 2019
4,806
-1
11,419
Country
China
Location
United States
Where is India Huawei? I see, India is a market to be conquered.
 

waz

SENIOR MODERATOR
Sep 15, 2006
16,787
68
43,172
Country
Pakistan
Location
United Kingdom
Samsung is a great company and this is a mega contract. Well done them.
I'd like to see if they offer the UK something good.
 

Hamartia Antidote

ELITE MEMBER
Nov 17, 2013
22,503
24
16,424
Country
United States
Location
United States
Hmmmm....interesting timing

Samsung reportedly cutting off chip sales to Huawei
 

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)


Top Bottom