Samsung just shot down all the rumors regarding its network business. The South Korean electronics giant stated that it isn’t selling off its network business, which is in charge with manufacturing mobile telecommunication systems. Not only does Samsung carries out business with some of the major LTE (4G) operators in US, Japan and Korea, but it also made some very significant investments in mobile telecommunications systems and devices. We’re talking tens of billions of dollars worth of investments every year, which drove the market into various innovations in the telecommunication field.
The South Korean technology giant will continue to innovate in the field of telecommunications with brand new devices, and this statement is very important, but comes in the wake of another announcement. Samsung has recently decided not to compete in Germany’s camera market anymore which means that it’s looking to drop areas or branches of the business that simply don’t make enough profit, and it’s probably where the network business shut-down rumors have their roots. The company signed an MoU with LG U+ to jointly develop 5G technology and is leading the standardization of the wireless technology.
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