SSNHZ Samsung Electronics Company Ltd (PK)

   By Kwanwoo Jun 
 

Samsung Electronics Co. has secured a 7.898 trillion won ($6.65 billion) contract to supply network equipment to U.S. wireless communications giant Verizon for five years.

Under the contract Samsung Electronics America Inc. is providing Verizon with wireless communications solutions from June 30, 2020 to Dec. 31, 2025, the South Korea-based tech giant said Monday.

Samsung declined to comment on whether the contract involves the supply of 5G capable equipment. The U.S. has tightened restrictions on such equipment made by China's Huawei Technologies Co.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

(END) Dow Jones Newswires

September 06, 2020 21:58 ET (01:58 GMT)

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