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Samsung closes 5G network deal with Vodafone

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Miguel A. Rodriguez
Miguel A. Rodriguez
15 June 2021
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/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.