• General
  • September 7, 2020
  • 3 minutes read

Verizon Awards Samsung Big 5G Deal

Verizon CEO Hans Vestberg. Photo credit: Stuart Isett/Fortune Brainstorm Tech, under Creative Commons license Samsung has nabbed a 7.9 trillion…

Verizon CEO Hans Vestberg.
Photo credit: Stuart Isett/Fortune Brainstorm Tech, under Creative Commons license


Samsung has nabbed a 7.9 trillion won ($6.6 billion) contract to provide 5G wireless solutions to US telecom giant Verizon, as indicated by a recent regulatory filing. The contract was finalized on Friday, the 4th of September, and is valid from June 30 of this year through December 2025. It represents one of Samsung’s biggest 5G contracts since the South Korea-based company decided to invest in networking and compete with established providers like Ericsson and Nokia to provide telecom equipment. The deal notably comes at a time when Huawei, a major telecom provider globally, is battling U.S. sanctions and the country’s efforts to get allies around the world to refuse Huawei equipment. That leaves a market gap Samsung seems slated to cut from.

Ample details on Samsung’s Verizon deal weren’t disclosed. “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 a statement.




Leave a Reply

Your email address will not be published. Required fields are marked *