Korean Economy News
Samsung Elec to supply 5G network solutions for Verizon

By Hwang Hyung-gyu and Kim Hyo-jin

Samsung Electronics Co. will supply Verizon with fifth-generation fixed wireless access network solutions and together start rolling out commercial 5G services in the United States in the second half of 2018.

The Korean tech behemoth said on Wednesday it clinched a deal with Verizon to supply network solutions, including home routers, radio access units and radio frequency planning services, based on the telecom giant’s 5G Technical Forum standard. Financial terms of the agreement were not disclosed.

The two companies have partnered in a series of 5G trials since last July across seven U.S. cities. The 5G network will debut in the second half of this year in Sacramento, California in what would be the world’s first commercial launch of 5G offerings.

“Samsung applied lessons learned from these real-world trials to ensure that our complete end-to-end 5G portfolio is ready for commercial service,” said Mark Louison, senior vice president of the networks division at Samsung Electronics America. “We are delighted to work with Verizon on this journey to create unprecedented user experiences powered by 5G.”

5G networks offer data speeds 10 to 100 times faster than current 4G networks and are seen as one of the core technologies to back the internet of things.

According to data provider IHS Markit, network operators and equipment makers are projected to spend as much as $200 billion annually in 5G technologies.

KT Corp. and other Korean telecom companies announced plans to launch commercial 5G networks next year.

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