Samsung Electronics Vice Chairman Lee Young visited the field recently. The occasion was to celebrate the start of production at a 5G network equipment factory. The Korean tech giant is putting more focus on 5G network enabled equipment business this year, which involves manufacturing of the components being used in 5G networks. These components are supplied to telecommunications companies. Other top executives of the company including CEO and president of IT& mobile division were present at the celebration ceremony held at the company’s factory and office complex in Suwon, Gyeonggi.
Lee told employees during the event, “The 5G market is a new field, and we have to build competence with the mindset of a challenger”. Lee and the team of executives stopped by the cafeteria for lunch. The factory is the first in the industry to be designed specifically using the smart factory principles. It utilizes 5G connectors to enhance productivity and reduced the rate of defects. The factory was originally manufactured 5G network equipment in Gumi but shifted to Suwon later at the site of its R&D center. This was done to create synergies between the manufacturing and R&D facilities.
Samsung believe that 5G connectivity is one of its four growth engines for the future when it announced a plan to invest $161 billion by 2021. Ability to use 5G network is vital not to telecommunication industry in the future but will also be an essential component of other related state-of-the-art technologies such as autonomous cars, AI-powered robots and virtual reality. The investors are showing interest in this 5G network equipment. Samsung’s presence in the global telecommunications equipment market is relatively low with share of around 11