Samsung wins $6.6bn Verizon 5G deal as Huawei gap filled
Samsung Electronics has won a $6.64bn order for 5G infrastructure from US telecommunications giant Verizon.
“With this latest long-term strategic contract, we will continue to push the boundaries of 5G innovation to enhance mobile experiences for Verizon’s customers,” Samsung said in a statement.
The announcement is part of a longer term 5G partnership between the two companies. Back in February, the two, alongside Motorola Mobility and Qualcomm, announced the achievement of speeds of 4.2 Gbps on its live 5G network, far faster than of between 100-200 Mbps.
In at the time, Adam Koeppe, Senior Vice President of Technology Planning at Verizon, said: “We continue to innovate and introduce advanced technologies on our 5G network that will help us reach never-before seen mobile capabilities and create new and exciting use cases across the consumer and enterprise landscape. Using 5G carrier aggregation, we are able to achieve unprecedented mobile speeds and bring the massive bandwidth available with mmWave spectrum to life.”
The initiative represents a part of the movement to create 5G networking infrastructure without the involvement of the market leading Chinese tech giant Huawei, which . That’s due to a perceived closeness of the company to the Chinese state, and ensuing pressure from the United States for its allies to divest from the technology for national security reasons.
A race to fill the gap has accordingly begun, with figures from marketing research firm Dell’Oro Group suggesting that Huawei had a 28% share of the global telecommunications equipment market in 2019, leaving large shoes for companies such as Samsung to fill.
Bukalapak raises $1.5bn in record Singapore IPO, say sources
Bukalapak, currently the fourth largest Indonesian ecommerce company, is said to have raised $1.5 billion in the first IPO by an Indonesian tech unicorn.
Three unidentified, but likely reliable, sources told Reuters the order books for Bukalapak’s IPO were covered by multiples, with one source claiming the issue attracted more than $6 billion in demand despite being listed at the top of its indicated price range.
Bukalapak's 50x growth
Bukalapak was looking to raise just $300 million just a few months ago. The figure grew to $800 million before rising to $1.5 billion as investors jockeyed for a piece of the company.
Covid-19 has had a positive impact on many ecommerce operators, and Bukalapak also has strong investment lines via Singapore sovereign investor GIC and Microsoft, among others. The company focuses on micro, small and medium-sized enterprises.
Indonesia is Southeast Asia’s biggest economy.
Indonesia’s four biggest ecommerce companies
Tokopedia is an Indonesian technology company specializing in e-commerce. It was founded in 2009 by William Tanuwijaya and Leontinus Alpha Edison.
Shopee was first launched in Singapore in 2015, and later expanded its reach to Malaysia, Thailand, Taiwan, Indonesia, Vietnam, the Philippines, Brazil, Mexico, Chile, and Colombia.
Lazada is a Singaporean multinational technology company which focuses mainly on e-commerce. Founded by Maximilian Bittner with the backing of Rocket Internet in 2012, it is currently owned by the Alibaba Group after its acquisition in 2016.
Bukalapak is an Indonesian e-commerce company. It was founded in 2010 as an online marketplace to enable small and medium enterprises go online and has expanded to support smaller traditional family owned businesses.