Samsung Electronics Co. will develop 5G network infrastructure for Verizon Communications under a USD 6.65 billion deal announced on Monday.
The contract runs through 2025, according to a Samsung corporate filing.
Samsung and Verizon have worked together before. In 2018, for example, Samsung technology was behind a 5G home service that Verizon offered to some customers in California, Texas and Indiana.
Samsung has demonstrated their commitment to collaborating with us to drive innovation in 5G, New York-based Verizon said in a statement.