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

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 84%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

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

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Elon Musk’s Option Haul Swells to Almost $9 Billion With Third PayoutTesla Inc.’s stock setback this week wasn’t enough to hinder Elon Musk’s improbable payouts, now amounting to a staggering $8.8 billion.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Germany Uses Novichok as Leverage With Kremlin Over Gas PipelineChancellor Angela Merkel’s top diplomat warned Russia that Germany’s support for the Nord Stream 2 gas pipeline is at risk if the Kremlin doesn’t assist in clarifying the poisoning of dissident Alexey Navalny.
Source: dailymaverick - 🏆 3. / 84 Read more »