Business Maverick: Samsung Wins $6.6 billion 5G Verizon Deal While Huawei Struggles

📆 07-09-20 08:45:00
📰 dailymaverick

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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 Samsung 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 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.

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

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