Samsung is ready to shake the global telecoms equipment market up with its latest contract with Verizon.
Samsung has always had the throne in the world of smartphones for the past 10 years but and it has always maintained the lead in supplying components to the mobile phone industry. However, lately due to the over-saturation of the market, Samsung has not been able to find new targets. So, it decided to step into a new venture – Telecoms equipment.
WHAT DO WE KNOW SO FAR ABOUT SAMSUNG 5G VERIZON?
As of right now, Samsung does not have a strong presence in the 5G area and Telecom market but its deal with Verizon is guaranteed to boost its position.
The deal is reported to be worth $6.6 billion and it is a big step for the company. According to recent reports, the contract will last for five years and the revenues from this deal will boost Samsung’s already booming business and its profile will become more prominent.
Samsung’s representative team reported that this long-term contract with Verizon will enable them, to push the boundaries of the 5G innovation and, to enhance the experience of using 5G on mobile phone for Verizon’s loyal customers.
WHAT ARE THE EFFECTS ON COMPETITORS?
We believe that this deal will have a positive effect on Samsung’s competitors. This a new step that has surprised every big company around the world. This deal is expected to instil confidence and inspire other operators and mobile companies around the world to try new things like Samsung-Verizon partnership.
Sources close to Samsung also reported that Samsung’s team talked to MPs in the United Kingdom. Samsung’s team said that the company is willing to step in and will “definitely” help the operators working in the UK while the government of the United Kingdom is busy courting Japanese vendor NEC.
WHAT DO WE THINK?
We think that this new venture of Samsung will not only bring success to Samsung, but it will also create more opportunities for people who use Samsung’s mobile phones. We cannot wait to see what this deal brings to the table, for Samsung.