Samsung Electronics Signs 7.9 Trillion KRW 5G Equipment Contract with Verizon (Breaking News)
[Asia Economy Reporter Han Jinju] Samsung Electronics announced on the 7th that it has signed a 5G wireless communication solution supply contract worth 7.8982 trillion won (6.64 billion USD) with the US mobile carrier Verizon. This accounts for 3.43% of Samsung Electronics' recent sales revenue.
Samsung Electronics will supply network solutions, including 5G mobile communication equipment, to Verizon for five years. This contract is the largest single export contract in the history of Korea's telecommunications equipment industry.
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Samsung Electronics explained, "This contract means that we have passed the verification of the largest telecommunications operator in the US, and have been recognized for reliability in all aspects of technology and security."
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