SEOUL: Samsung Electronics said on Monday it had won a $6.64 billion order to provide wireless communication solutions to Verizon in the US, a major win for the firm in the next-generation 5G network market.
The order is for network equipment, a Samsung spokesman said. The company declined to comment on detailed terms the contract such as the portion of 5G-capable equipment included.
“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.
Samsung’s global prospects for its network business have improved following US sanctions on its bigger rival Huawei of China. Verizon CEO Hans Vestberg told CNBC in July last year that Verizon does not use any Huawei equipment. Verizon had already been a Samsung customer before the order.