24.1 C
Basseterre
Friday, September 18, 2020
Home Business Samsung Wins $6.6 Billion Verizon Contract For 5G Network

Samsung Wins $6.6 Billion Verizon Contract For 5G Network

(AP) Samsung Electronics Co. will develop 5G network infrastructure for Verizon Communications under a $6.65 billion deal announced Monday.

The contract runs through 2025, according to a Samsung corporate filing.

Samsung and Verizon have worked together before. In 2018, for example, Samsung technology was behind a 5G home service that Verizon offered to some customers in California, Texas and Indiana.

“Samsung has demonstrated their commitment to collaborating with us to drive innovation in 5G,” New York-based Verizon said in a statement. “We are excited to expand our relationship with them and benefit from a long-term strategic agreement.”

Samsung said its expanded partnership with Verizon will allow the companies to “push the boundaries of 5G innovation to enhance mobile experiences for Verizon’s customers.”

“We’re excited to continue delivering on breakthrough network technologies that will expand what’s possible through 5G,” the company said in a statement.

The South Korean technology giant beat out rivals like Finland’s Nokia, which has collaborated with Verizon in the past.

But one 5G rival — China’s Huawei Technologies Ltd. — wasn’t in the running for the contract. Huawei has been largely absent from the U.S. since 2012, when a congressional panel warned phone carriers to avoid it. The U.S. says it’s a security risk to give China too much access to 5G systems, which are expected to support self-driving cars, factory robots and other applications.

More recently, the Trump administration has been pressuring European companies not to work with Huawei. In February, Attorney General William Barr said the U.S. government should consider taking a “controlling stake” in the European companies Nokia and Ericsson to thwart Huawei’s global ambitions.

Most Popular

High Court To Rule On Patches Liburd Election Petition Case on Sept. 25

St Kitts and Nevis (WINN): Oral arguments for the petition application submitted by Ian Patches Liburd to inspect the June 5 rejected ballots in...

St Kitts and Nevis Agrees In Principle To Regional Travel Bubble In Response To COVID-19 Challenges But Its Borders Remain Closed

Basseterre, St. Kitts, September 17, 2020 (SKNIS): Coming out of a CARICOM Heads of Government Meeting on Friday 11th September, 2020, to address challenges...

Director of Marine Resources: Invest in Aquaculture

By Kevon Browne St Kitts and Nevis (WINN): Marc Williams, director of the Department of Marine Resources argues that aquaculture, the rearing of aquatic animals...

CARICOM ‘Travel Bubble’ Agreement Only In Principle, SKN Borders To Remain Closed

By Clive Bacchus St Kitts and Nevis (WINN): While the Chairman of CARICOM Dr. Ralph Gonsalves announced that St. Kitts and Nevis and other low-risk...

Address by Prime Minister Timothy Harris at the Observance of National Heroes Day

My fellow citizens and residents of our beloved St. Kitts and Nevis, it is with an enduring sense of honour and duty that I...

Former IAAF Head Lamine Diack Sentenced To 2 Years In Prison

PARIS (AP) — Former track federation president Lamine Diack was sentenced Wednesday to two years in prison for corruption during his nearly 16-year tenure...

A Hero Lies In You, Prime Minister Harris Says To The Nation’s Youth

BASSETERRE, St. Kitts, September 16, 2020 (Press Unit in the Office of the Prime Minister) - As the Federation of St. Kitts and Nevis...

US Secretary of State visits Suriname, Guyana, Brazil, and Colombia

Secretary of State Michael R. Pompeo will travel to Paramaribo, Suriname; Georgetown, Guyana; Boa Vista, Brazil; Bogota, Colombia; and Plano, Texas, September 17-20, 2020. This trip will highlight...

Robbery Suspects Reportedly Detained

St Kitts and Nevis (WINN): Four men are reportedly in police custody and the hunt is reportedly on for another as investigations continue into...

Commentary By G. A. Dwyer Astaphan – Mathematics and National Success

The countries of the world are ranked on the United Nations Human Development Index using criteria such as life expectancy, the quality of life,...

OPEN IN NEW WINDOW

Contact a Program
If you are interested in a program or advertising, send us a message.
Send Message
Signup for our Newsletter
We'll only be in touch when we've something exciting to share.
We never share your details
No thanks
Subscribe