Swedish telecommunications giant Ericsson on Friday announced a landmark multi-year $8.3 billion agreement with Verizon to provide its industry-leading 5G solutions to accelerate the deployment of Verizon's world-class next-generation 5G network in the US.
Under this $8.3 billion agreement, Verizon will deploy Ericsson's 5G MIMO C-band, low-band and millimeter wave (mmWave) solutions to enhance and expand Verizon's 5G Ultra Wideband coverage, network performance and user experience, said a press release issued by Ericsson.
Ericsson's technology solutions, including Massive MIMO, Ericsson Spectrum Sharing and Ericsson Cloud RAN, complement the high-performing Ericsson Radio System portfolio to support 5G services.
"This is a significant strategic partnership for both companies and what we're most excited about is bringing the benefits of 5G to US consumers, enterprises and the public sector. We are looking forward to working with Verizon to leverage solutions like Cloud RAN and our Street Macro, adding depth and versatility to 5G network rollouts across the US," Ericsson North America President Niklas Heuveldop said.
Verizon Chief Technology Officer Kyle Malady said: "With this new agreement, we will be able to continue driving innovation and widespread adoption of 5G. We are pleased to continue this work through our long-standing relationship with Ericsson."
In 2020, Verizon was the first communications service provider to receive a commercial 5G mmWave Street Macro base station from Ericsson's award-winning new state-of-the-art US smart factory in Lewisville, Texas.