Samsung Electronics wins 7.9t won Verizon order for network equipment
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[SEOUL] Samsung Electronics said on Monday its US unit won a 7.9 trillion won (S$9.14 billion) order to provide wireless communication solutions to Verizon in the United States.
The order is for network equipment, a Samsung spokesman said, but declined to comment on detailed terms the contract, such as the portion of 5G-capable equipment included.
Samsung said in a regulatory filing the period of the contract, signed with Verizon Sourcing LLC, is from June 30, 2020 to Dec 31, 2025. It did not give details in the filing.
Verizon had already been a customer of Samsung before the order. Verizon CEO Hans Vestberg told CNBC in July last year that Verizon doesn't use any Huawei equipment.
Verizon is believed to be Nokia's biggest customer, JPMorgan research said in a July note.
REUTERS
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