Samsung has been working hard to develop 5G mobile network technologies. It has collaborated with Japan’s KDDI for this purpose and it’s now leading the way for standardization of 5G mobile technology. The company also showcased the world’s first end-to-end 5G solution back at the Mobile World Congress this year. A company executive makes no secret of the fact that Samsung wants to be a global top-three player in 5G mobile networks and it’s going to do that by moving into potentially lucrative markets like the United States quickly.

Samsung’s networks business ranks behind the likes of Nokia, Huawei, and Ericsson as it backed technologies like CDMA and WiMax that never really took off. It sees an opportunity to make up lost ground by moving fast with 5G which is undoubtedly the next-generation standard for telecom operators as it will offer speeds ten times faster than 4G. Kim Young-ky, Samsung’s network business chief, told Reuters that “We plan to move quickly and want to be at least among the top three with 5G.” Samsung expects to have more than 10 trillion won ($8.6 billion) in annual sales of 5G communications equipment by 2022, that’s going to be a big improvement for the company that only generated 3 trillion won in revenue from its networks business last year.