Samsung want to be the early bird when it comes to manufacturing 5G networking equipment, the media reported on Tuesday.
That way, it hopes, it can compete with other big players, such as Huawei, Nokia and Ericsson, that have pulled ahead in recent times, mostly to Samsung backing technologies that never really caught up, like CDMA and WiMax wireless technologies.
One of the ways it believes it can catch up to the 'big guys' is by entering the US market as fast as possible.
"We plan to move quickly and want to be at least among the top three with 5G," Kim Young-ky, Samsung's network business chief, told Reuters in an interview. "It's important to get in early."
The South Korean's financial goal is to hit around £5.8bn in annual sales of 5G equipment by 2022. It was said that the US is rushing to open the market to 5G, with 2020 being the year when the technology might have its debut.
One of Samsung's key players in achieving this goal is Verizon, which should commercialise the technology. Verizon is, however, also working with Nokia, Ericsson, Qualcomm and Intel on the same technology.
5G is the latest wireless data transfer technology, which is expected to give a significant boost to the Internet of Things market. With high data transfer speeds and larger bandwidth, it will allow more IoT devices to be connected and transfer large amounts of data, fast.
On the consumer side, it will allow high-quality video streaming and faster downloads, among other things.
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