Reuters
UPDATE 2-Samsung bets on Europe 5G orders to grow network equipment business
Samsung Electronics is banking on Europe to maintain growth momentum in its network equipment business, a senior executive said, as 5G rollout widens and industry leader Huawei Technologies of China focuses on its domestic market. Although the South Korean tech company is global No. 1 in memory chips and smartphones, in 5G network equipment it ranks fifth behind Huawei, Ericsson, Nokia and ZTE based on the latest four quarters, with a 10-15% market share in the first quarter of 2021, according to market research firm Dell’Oro Group. But as Samsung landed a $6.6 billion deal with U.S. telecoms company Verizon in September, followed by a deal with Japan’s NTT Docomo in March, “impressions have changed”, Woojune Kim, executive vice president of Samsung’s networks business, told Reuters in an interview on Friday.
