Bedminster carrier Verizon cuts $6.6 billion Samsung deal to develop 5G in the US

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Bedminster carrier Verizon cuts $6.6 billion Samsung deal to develop 5G in the US

Verizon Communications, the New York-headquartered No. 1 wireless carrier in the United States, had issued a statement late on Monday saying that the New Jersey-based data carrier had cut a $6.6 billion deal with the S. Korean tech conglomerate Samsung electronics to develop its fifth-generation networking infrastructure, remarking the first concrete attempt from any American wireless carrier to develop their fifth-generation networking infrastructure following an ousting of the world’s No.

1 telco gear maker Huawei Technologies over national security concerns. Apart from the Verizon statement that released late on Monday, a Samsung filing with the securities and exchange commission had unveiled that the contract would last until end-2025.

Samsung and Verizon to develop US 5G network after Huawei departure

In Point of fact, latest deal between Verizon and Samsung came against the backdrop of a garrulous trade relationship between Washington and Beijing, which eventually had led to a demise of Huawei Technologies from the 5G markets in the US and UK.

Aside from that, expressing an out-and-out optimism over the latest Samsung deal, the New York-headquartered Verizon said in a statement, “Samsung has demonstrated their commitment to collaborating with us to drive innovation in 5G.

We are excited to expand our relationship with them and benefit from a long-term strategic agreement,” while voicing a jubilant tone over the five-year long contract with Verizon Communications, Samsung said in a statement, “Verizon will allow the companies to push the boundaries of 5G innovation to enhance mobile experiences for Verizon’s customers.

We’re excited to continue delivering on breakthrough network technologies that will expand what’s possible through 5G. ” Nonetheless, it hasn’t been the first time Verizon and Samsung had been in a contract, as for example, Samsung Electronics had developed a 5G home service for Verizon back in the 2018s in the US states of California, Texas and Indiana.