Samsung wins $9b Verizon deal to supply 5G network solutions

Samsung wins US$6.6b 5G Verizon deal while Huawei struggles

Samsung wins US$6.6b 5G Verizon deal while Huawei struggles

Samsung Electronics Co. won a 7.9 trillion won (US$6.6 billion) order to provide fifth-generation wireless solutions to Verizon Communications Inc.in the USA, a big win for the electronics giant's networking gear business.

Verizon CEO Hans Vestberg told CNBC a year ago the largest USA wireless provider does not use any Huawei equipment.

Samsung already is supplying 4G and 5G equipment to AT&T, Sprint and Verizon, and now is working to expand its presence in Japan.

"More companies will be turning to Samsung for their 5G equipment because of the U.S. restrictions against Huawei and Nokia's quality issues", Kim Young-woo, an analyst at SK Securities, told the Financial Times.

A Samsung spokesman confirmed that the factory in Tianjin is the only Samsung Electronics TV production facility based in China.

However, the company did not reveal whether the contract includes the supply of 5G-capable equipment.

ICMR new advisory allows 'On-Demand' COVID-19 testing
Testing of all asymptomatic high-risk individuals (people above 65 and those with co-morbidities etc.) in containment zones. It comprises 833 Real-Time RT PCR labs, TrueNat based testing labs are 689 and 121 are CBNAAT based testing labs.

"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", the company said in an emailed statement.

In August, Samsung said it will halt operations of its last computer factory in China. Samsung declined to comment on the number of workers, but said some of the workers and equipment are expected to be retained.

The Trump administration last month unveiled plans to auction off spectrum previously dedicated to military purposes for commercial use starting in mid-2022, to ramp up fifth-generation network coverage in the United States.

5G networks are touted as promising an exponential leap in the amount and speed of wireless data, enabling advances in self-driving vehicles, virtual reality, connected health and more as sensors and servers communicate instantly.

Britain in July ordered Huawei equipment to be purged completely from its 5G network by the end of 2027, adding that it needs to bring in new suppliers such as Samsung Electronics and Japan's NEC.

Shares in the South Korean electronics giant are up 2% in today's trading, while Verizon is now trading down 1.5% year-to-date.

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