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Samsung Wins $ 6.6-Billion 5G Verizon Deal

The global information technology Samsung Electronics Co. won a 7.9 trillion ($6.6 billion) order to provide 5G wireless solutions to Verizon Communications Inc. in the US, a big win for the electronics giant’s networking gear business. On Friday, the contract was finalized and it is valid from June 30 through December 2025, said in a regulatory filing. Samsung 5G is one of the biggest contracts since the largest corporation of Korea decides year ago to invest in networking and complete with global players like Nokia and Ericsson. The Huawei Technologies Co. is grappling with U.S. sanctions and effort to get allies around all over the world to shut all the Chinese company. ‘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,’ the company said in an emailed statement. Moreover, Samsung is the world largest memory chip and electronics gadget maker which has been pushing hard to expand its market share in the fifth-generation equipment market and also investing in sixth-generation mobile networks. No further details regarding version deal were provided from the company. The US carrier gained much-needed mid-band spectrum for its 5G rollout after emerging among the top winners in a recent US auction of airwaves.

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