The order is for network equipment, a Samsung spokesman said, but declined to comment on detailed terms the contract, such as the portion of 5G-capable equipment included.
Samsung said in a regulatory filing the period of the contract, signed with Verizon Sourcing LLC, is from June 30, 2020 to Dec. 31, 2025.
FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul, South Korea, March 23, 2018.
KS) said on Monday its U. S. unit won a 7. 9 trillion won ($6. 7 billion) order to provide wireless communication solutions to Verizon (VZ. N) in the United States.
Verizon had already been a customer of Samsung before the order.
Verizon CEO Hans Vestberg told CNBC in July last year that Verizon doesn’t use any Huawei equipment.