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Samsung ramping up network business to capitalise on Huawei
- Monday | 18th February, 2019
Filings show Nokia’s network business made about 1.2 billion euros ($1.4 billion) while Ericsson’s network operations made 19.4 billion Swedish crowns ($2.1 billion). SEOUL (Reuters) – Samsung Electronics is pouring resources into its telecom network equipment business, aiming to capitalise on the security fears hobbling China’s Huawei, according to company officials and other industry executives. Underscoring the growing importance of the business, South Korean Prime Minister Lee Nak-yeon visited Samsung’s network division in January. Asked about Samsung’s big push into network equipment, Huawei said in a statement that it welcomed competition in the market. Kim Young-woo, an analyst at SK Securities, expects Samsung to hire 1,000-1,500 people for 5G network equipment this year.
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