Samsung wins $6.64 bln deal to provide 5G equipment and network solutions to Verizon

By Lim Chang-won Posted : September 7, 2020, 09:53 Updated : September 7, 2020, 09:53

[Courtesy of Samsung Electronics]

SEOUL -- Samsung Electronics has secured a crucial five-year deal worth $6.64 billion to provide network solutions including 5G mobile telecom equipment to Verizon, an American telecom conglomerate. The deal is expected to solidify Samsung's position as a competitive player in North America's 5G equipment and infrastructure market.

Samsung said in a regulatory filing that the deal was concluded between Verizon Sourcing LLC and Samsung Electronics America. It marked the largest single export contract in the history of South Korea's telecom equipment industry.

Samsung has delivered 5G end-to-end solutions ranging from chipset, radio, and core to cloud platforms. Thanks to growing demands for 5G equipment and network solutions, Samsung's network business has expanded its presence in the global 5G equipment market.

In September 2019, Samsung's equipment was picked for KDDI Corporation, a Japanese telecoms operator. In December last year, the company was selected as the 5G and 4G network solution provider for Videotron, a Canadian telecom operator.

Samsung secured a deal in March to provide 5G solutions for the establishment of a 5G network by Spark of New Zealand. In June, Telus, a Canadian national telecoms company, selected Samsung as a 5G vendor for mobile services.

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