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Thursday, June 13, 2024

Samsung’s Lee Jae-yong meets Verizon CEO to discuss new Galaxy models

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Samsung Electronics Executive Chairman Lee Jae-yong met with Verizon CEO Hans Vestberg to discuss possible cooperation related to sales of the upcoming Galaxy smartphone line, the electronics company said Thursday.

The two met in New York on Tuesday during Lee’s multiweek trip across the United States.

Lee and Verstberg, who have had a close relationship since 2010, discussed possible measures to expand their partnership in services related to Android ecosystem for Verizon customers and potential areas of cooperation on marketing the Galaxy smartphones set to launch later this year. The two companies are considering providing an experience zone for the handsets’ AI features at Verizon stores, according to Samsung.

Samsung Electronics President Roh Tae-moon, of the mobile business, attended the meeting along with other company executives.

Samsung Electronics Executive Chairman Lee Jae-yong, right, and Verizon CEO Hans Vestberg at Verizon’s headquarters in New Jersey in November 2021 [SAMSUNG ELECTRONICS]
“We should be the best in what everybody does and the first where nobody has succeeded before,” Lee said following the meeting.

Verizon is Samsung’s largest partner among global telecommunication companies. The firm signed a massive 7.9 trillion won ($5.8 billion) supply deal with Samsung for 5G network equipment in 2020, which marked the largest-ever export deal for a single contract in Korea’s telecommunication sector.

The Samsung chief left home on May 31 and plans to travel across the country from New York to Silicon Valley through mid-June.

The minute-by-minute schedule includes some 30 meetings with chief executives of major U.S. tech companies and government officials, according to Samsung Electronics. The goal is to bolster ties with the company’s partners while identifying new growth drivers.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]