SEOUL -- Samsung Electronics said Monday it has secured a 7.9 trillion won ($6.6 billion) order to supply 5G telecommunications equipment to Verizon Communications, paving the way for the South Korean giant to expand its presence in the U.S. as its Chinese rival, Huawei Technologies, remains locked out of the world's largest telecom market.
Samsung's local unit Samsung Electronics America on Friday signed a deal with Verizon Sourcing, a subsidiary of Verizon Communications, to begin offering mobile communication solutions for the wireless carrier by 2025. This includes providing, establishing and maintaining the company's 5G mobile telecom equipment.
