Samsung Electronics has clinched a $6.6bn deal with Verizon to help it build 5G networks in the US, highlighting how the technology group can benefit from the Trump administration’s targeting of China’s Huawei.
The South Korean company said on Monday it had signed a contract to supply wireless telecoms equipment to the US operator until the end of 2025. The components will be used for Verizon’s 5G telecom services, according to people familiar with the matter.
The deal comes as the US increases sanctions on Huawei. Washington last month banned sales of any chips using US technology to the Chinese company, hitting Huawei’s 5G equipment and handset businesses.
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