Samsung moving quickly into 5G sector

Samsung’s network business chief Kim Young-ki told Reuters that the firm plans to enter the 5G space fast, foreseeing KRW 10trn in annual sales by 2022 - more than three times its current networking revenue.

The company’s smartphone division generated KRW 100trn alone last year.

“We plan to move quickly and want to be at least among the top three with 5G, Kim said.

It’s understood Samsung has assembled a team of 100 from its other divisions to focus on the 5G networking business.

“The team is the quintessence of each team’s combined capacity in order for Samsung electronics to prevail in the 5G network market,” Kim told domestic media.

Samsung’s claims come at a time when 5G is at the forefront of regulator rhetoric, with the US Federal Communications Commission saying it wants 5G wireless to be available from 2020.

Tim Wheeler, chairman of the FCC, has vowed to open up high-band spectrum for 5G applications across the United States.

Last year Boris Johnson, as London mayor, said that the capital will also have access to 5G mobile connectivity by 2020, saying that it will allow people to download a film in less than a second.

Samsung says 5G will be a boon for connected businesses, with speeds 10 times that of the current 4G networks.