Samsung wins $6.6 billion contract from Verizon to create 5G

Business

Samsung Electronics Co. will develop 5G network infrastructure for Verizon Communications under a $6.65 billion deal announced Monday. The contract runs through 2025.  

Samsung has developed limited 5G systems for Verizon before, and Verizon said Monday it was excited to expand the relationship.

The South Korean technology giant beat out rivals like Finland’s Nokia, which has also worked with Verizon in the past. But one 5G rival _ China’s Huawei Technologies _ was off the table.

The U.S. government has warned U.S. and European phone carriers against giving China too much access to 5G systems.

Don't miss

More Featured

Latest News

More News