The Korean firm “Samsung Electronics” Chairman Lee Jae-Yong recently caught up with Verizon CEO Hans Vestberg to discuss how their brands can polish up the collaboration.
Lee recently left South Korea to go abroad on a trip to meet Samsung’s close partners and various figures across the world. Lee is visiting New York, Washington, DC, and Silicon Valley in the US during his current business trip. On June 4, 2024, during his meeting with Hans Vestberg, Lee lit up on next-generation communication technologies and Galaxy products.
They discussed the way they can use AI to upgrade mobile service plans and technologies, discussed strategies to enhance customer value through technological innovation, and discussed expanding the sales of Galaxy devices in the second half of the year.
Both giants also discussed strategies to expand the Android ecosystem for Verizon customers. Samsung’s press release revealed that Lee discussed how they can help customers experience Galaxy AI features in Verizon stores in the US. Undoubtedly, Verizon is the biggest trading partner of Samsung in the telecommunications business. After the get-together with Hans Vestberg, Samsung Chairman Lee stated, “Let’s do the business that everyone does better than anyone else and do the business that no one can do before anyone else.”
Verizon maintains close cooperation with Samsung across a few product categories, such as networking equipment, smartphones, smartwatches, and tablets. Back in 2020, Samsung Networks, Samsung Electronics’ business arm that develops telecommunication hardware and software, received its biggest-ever contract worth KRW 7.9 trillion ($5.78 billion) from Verizon Communications. It seems that this contract resulted in Samsung Networks successfully entering the 5G networking business in the US. During this business trip, he was also joined by Samsung MX President TM Roh, Samsung Networks CEO Kim Woo-jun, and President Choi Gyeong-sik, CEO of Samsung Electronics North America.
