Samsung closes 5G network deal with Vodafone

Samsung closes 5G network deal with Vodafone

After yesterday it announced that it temporarily halts the production of Galaxy S21 FE, Samsung revealed a partnership with Vodafone

In a joint statement, Vodafone and Samsung Electronics announced that the latter would supply its 5G network equipment in Britain. For the South Korean company, it represents a breakthrough in Europe’s telecoms gear market.

Currently, the European telecoms equipment market is dominated by Nokia, Ericsson, and Huawei. Samsung came into the picture after it landed a $6 billion deal with Verizon in September 2020. Moreover, the European mobile operators are considering replacing China’s Huawei as a supplier. Spain’s Telefonica and France’s Orange already held talks with Samsung regarding the matter.

Britain had already ordered all Huawei to be removed from its 5G network by 2027, following the US’ steps, citing national security risks.

The financial terms of the deal were not disclosed.

At the moment of writing, Samsung stock price is 0.50% higher, while Vodafone edged 0.32% higher during today’s premarket session.

Read more about Samsung’s chip shortage here!

Sources: finance.yahoo.com, reuters.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com

JME Financial Services (Pty) Ltd trading as ZA.CAPEX.COM acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via ZA.CAPEX.COM, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15. Magnasale Trading Ltd is the principal to the CFD purchased by investors.