[Alpha Biz= Paul Lee] Samsung Electronics will supply communication devices, including Galaxy smartphones, worth at least 1 trillion KRW to Canada’s largest telecom operator, Bell.
On Monday, the Korea Trade Insurance Corporation (K-sure) announced that it would provide financial support for Bell’s purchase of Samsung Electronics' communication devices, amounting to $700 million (approximately 1 trillion KRW). Bell is the number one telecom operator in Canada, with approximately 22 million subscribers. The funds received from K-sure will be used entirely for purchasing Samsung Electronics products.
K-sure has been operating a "Device Financing" program aimed at opening overseas markets for Korean telecom devices. This program includes providing financial support for the purchase of 4G and 5G network equipment from Korean manufacturers. In 2022, K-sure provided $1 billion in financing for the purchase of Korean-made 4G and 5G network equipment by major U.S. telecom companies. Additionally, K-sure has provided financing to major European telecom companies, including 100 million euros to Poland in 2021 and 350 million euros to France in 2023.
The specific details of the contract remain undisclosed due to a non-disclosure agreement between the companies. However, it is known that Samsung will be supplying not only telecom equipment but also its Galaxy smartphones and other communication devices.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
