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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Samsung Electronics Co., Ltd.    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

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Speedy removal of Huawei would cost UK, operators - Vodafone and BT

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07/09/2020 | 09:38am EDT
A woman holds a phone as she passes a Vodafone  store in London

By Paul Sandle

Britain's rebound from COVID-19 could be harmed if the government demands a speedy removal of telecoms equipment made by China's Huawei from mobile networks, Vodafone and BT warned on Thursday.

The world's second-biggest operator, Vodafone, said it would cost "single figure billions" of pounds to remove the equipment.

BT has put the cost of complying with an existing requirement to lower Huawei usage at 500 million pounds ($633 million).

"I am concerned that an ultra aggressive imposition of a change in policy could hamper our economic recover in the UK," Vodafone UK's head of technology Andrea Dona told British lawmakers.

Vodafone and BT need a minimum of five years and ideally seven to avoid major disruption to Britain's emerging superfast networks, their technology bosses told the lawmakers.

Britain in January capped Huawei's role in its 5G networks at 35% and barred it from the most sensitive parts of the system.

The United States alleges that the Chinese government could use Huawei's equipment for espionage, which Huawei denies.

The British government has said new U.S. sanctions on chip technology could damage Huawei's ability to supply crucial networking equipment.

As a result it is revisiting its policy on Huawei, with ministers indicating that a total ban is likely.

BT is already trialing switching some network sites from Huawei to other vendors, its chief technology officer Howard Watson said.

Huawei's UK chiefs told the lawmakers it was too soon to quantify the long-term impact of the sanctions and no hasty decision should be made.

Britain wants to encourage new entrants into the market, reducing reliance on Huawei, which only has Ericsson and Nokia as major rivals in Europe.

Samsung, which provides some gear to Hutchison's Three UK, said it could "definitely" supply a new 5G network, and was in active commercial talks with European operators.

"The one thing that is a challenge for Samsung entering the UK or European market is more related to a request for single RAN technology," Samsung Executive Vice-president Woojune Kim said, referring to the Radio Access Network which links the core network and devices.

He also said there had been "brutal" competition and some of the contract prices "did not make sense".

($1 = 0.7904 pounds)

(Reporting by Paul Sandle; editing by Kate Holton and Jason Neely)

Stocks mentioned in the article
ChangeLast1st jan.
BT GROUP PLC 2.23% 111.6129 Delayed Quote.-43.33%
ERICSSON AB 0.00% 102.1 Delayed Quote.25.18%
NOKIA OYJ 0.91% 4.2605 Delayed Quote.28.03%
SAMSUNG ELECTRONICS CO., LTD. 0.69% 58200 End-of-day quote.4.30%
VODAFONE GROUP PLC 1.04% 120.04 Delayed Quote.-19.07%
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Financials
Sales 2020 232 123 B 196 B 196 B
Net income 2020 24 333 B 20,5 B 20,5 B
Net cash 2020 96 701 B 81,5 B 81,5 B
P/E ratio 2020 15,8x
Yield 2020 2,45%
Capitalization 388 833 B 328 B 328 B
EV / Sales 2020 1 675x
EV / Sales 2021 1 490x
Nbr of Employees -
Free-Float 82,9%
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Number of Analysts 39
Average target price 70 797,44 KRW
Last Close Price 58 200,00 KRW
Spread / Highest target 40,9%
Spread / Average Target 21,6%
Spread / Lowest Target -5,50%
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NameTitle
Hyun-Suk Kim Co-President, Co-CEO & Director
Dongjin Koh Co-President, Co-CEO & Director
Kinam Kim President, Co-CEO & Director
Tae Moon Roh Co-President & Head-Research & Development
Jae-Wan Park Chairman
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