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Tuesday, September 8, 2020

Huawei Struggles As Samsung Wins Big $6.6 Billion 5G Verizon Deal

Whether you want this or not, the 5G wave is here and Samsung is about to take it to the next level. Samsung Electronics Co. won a $7.9 Trillion ($6.6 Billion) order to provide fifth-generation wireless solutions to Verizon Communications Inc. in the United States. This is a huge win.

Finalized this past Friday, the contract is valid from June 30 through December 2025.

One of Samsung's biggest 5G deals since going into competition with global heavy-hitters like Nokia Oyj and Ericsson in providing telecom equipment. While Huawei Technologies Co. struggles with US sanctions and the gathering of allies to shortstop the Chinese company, this would lift Samsung's market share in the wireless industry.

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