South Korean tech giant Samsung Electronics Co. Ltd. is planning to secure a place among the top three players in 5G mobile networks. According to the company’s executive, Samsung is planning to achieve this by moving swiftly within markets like the Unite States.

Samsung is one of the top smartphone makers in the world and when it comes to network business, it is closely following companies like Nokia Corp, Huawei Technologies, and Ericsson. As of now, the telecom equipment manufacturers are eager to develop 5G as the next-generation network and on a similar note, Samsung is trying its best to catch up by moving fast and early on 5G.

Kim Young-ky, Samsung’s network business chief, informed Reuters in an interview, “We plan to move quickly and want to be at least among the top three with 5G”.

5G, as a network, is in alignment with the futuristic goals of tech firms which entail self-driven cars and other smart gadgets. The reason being, 5G data speeds are approximately 10 times faster than 4G technology and that is the kind of speed which is required for facilitating the ubiquitous use of such futuristic products.

During the 2018 winter Olympics in Pyeongchang, South Korean carrier KT Corp is aiming to render trial 5G services as well. In addition, Japan and South Korea are also eager to deploy 5G as they are hoping that this next-generation network will help them in boosting their economy.

A spokeswoman stated –

Samsung is targeting more than 10 trillion won ($8.6 billion) from the annual sales of 5G equipment by the year of 2022.

And Samsung’s partnership with New York-based Verizon Communications will be instrumental in commercializing the same technology. As of now Nokia, Qualcomm, Ericsson and Intel Corp. are already working with the same network carrier (Verizon) to establish a strong foothold in terms of delivering 5G services.