Ericsson Wins $8.3 Billion 5G Order From Verizon
A few days ago, Verizon revealed that it has reached a $8.3 billion 5G equipment contract with Ericsson. Niklas Heuveldop, president of Ericsson's North American business, expressed his expectation that Ericsson's Cloud RAN and Street Macro devices can be used in Verizon's network. Verizon CTO Kyle Malady also expressed his willingness to continue the long-term cooperative relationship with Ericsson.
Verizon invested US$50 billion to obtain the C-band IF spectrum at the beginning of this year, and plans to invest US$10 billion in equipment purchases in the next three years. The goal is to achieve 5G coverage of 250 million people by 2024.
Verizon plans to purchase Ericsson's 5G equipment including MIMO C-band, low-band and millimeter-wave solutions.