Verizon has inked a $6 billion deal to provide network equipment to Verizon. 502"}’ section="annotation">Samsung has won a $6. 6 billion contract to provide network equipment to wireless provider Verizon, providing a big boost to Samsung 5G market ambitions.
Samsung had a 3% share of the global telecom market in 2019, well behind market leader Huawei’s 28% share, Nokia’s 16% and Ericsson’s 14%, according to market research firm Dell’Oro Group. 5G is the next generation of wireless technology rolling out across the world, promising to deliver much faster wireless service and a more responsive network.
"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 wins $6.6 billion Verizon deal for network equipment https://t.co/SKgOjqMFva— CNET News (@CNETNews) September 7, 2020