Samsung Forays In Europe 5G With Vodafone Partnership: Reuters

Author: Anusuya Lahiri | June 14, 2021 09:06am

• Vodafone Group PLC (NASDAQ:VOD) has collaborated with Samsung Electronics Co Ltd (OTC:SSNLF) to provide 5G network equipment in Britain, Reuters reports.
• The financial terms of the transaction remain undisclosed.
• The initiative marks European mobile operators’ attempt to replace Huawei Technologies Co., Ltd.
• Spain’s Telefonica SA (NYSE:TEF) and France’s Orange SA (NYSE:ORAN) confirmed their discussions with Samsung.
• Britain previously ordered the removal of Huawei equipment from its 5G network by 2027, akin to the U.S. embargo over national security concerns.
• Samsung is capitalizing on Europe to maintain its network equipment business growth following widespread 5G rollouts.
• Samsung snapped a $6 billion Sep deal with Verizon Communications Inc (NYSE:VZ). Previously the market was ruled by Nokia Oyj (NYSE:NOK), Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), and Huawei.
• Telecom operators are gradually adopting the Open RAN, which permits mobile operators to combine equipment from multiple suppliers leading to higher flexibility and lower costs.
• Japan’s Rakuten Group Inc (OTC:RKUNF) (OTC:RKUNY) and DISH Network Corp (NASDAQ:DISH) have opted for open networks. Telefonica and Vodafone have also followed suit.
• Price action: VOD shares traded higher by 0.38% at $18.66 during the market session on the last check Monday.

Posted In: DISH ERIC NOK ORAN RKUNF RKUNY SSNLF TEF VOD VZ