Samsung says th massive deal was equivalent to 3.4% of its total worldwide sales last year. – AFPPIXSamsung Electronics clinched a US$6.6 billion agreement to provide 5G network equipment to Verizon in the United States, a regulatory filing showed today, expanding its presence in the strategically crucial market.
Washington has banned US telecom firms from using network equipment manufactured by Samsung's Chinese rival Huawei on security grounds. The order comes after the firm defied the coronavirus pandemic to post a 7.3% rise in second-quarter net profits thanks to strong demand for memory chips.The US is considered behind other countries such as China and South Korea when it comes to deploying the potentially transformative technology.
First-generation mobile networks enabled wireless phone calls, and the second generation added texting.
Source: Tech Daily Report (techdailyreport.net)
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