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Samsung Forays In Europe 5G With Vodafone Partnership: Reuters

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Samsung Forays In Europe 5G With Vodafone Partnership: Reuters
  • 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.
 

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