InvestorQ : What is Samsung’s $6.6 billion deal with US telecommunications giants Verizon?
Shreya Mashelkar made post

What is Samsung’s $6.6 billion deal with US telecommunications giants Verizon?

Answer
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varsha Motwani answered.
3 weeks ago


This can be a historic moment in the development of Samsung’s network business as it has bagged the largest network equipment supply deal worth $6.6 billion with Verizon. It has signed a contract with the US operator to supply network solutions, including 5G, for the next five years. The size of this deal is equivalent to 3.43% of the total sales of $230 trillion achieved by Samsung Electronics in 2019. Samsung was already trying to expand its operations and customer pool in 5G equipment, what else could be a better opportunity than this.

Samsung believes that with this latest strategic contract, they shall continue to push boundaries of 5G innovation to enhance mobile experiences for customers of telecommunication giants. This deal will also help Samsung to capture more network solutions orders in other major markets as well.