Samsung and the HTC Corporation have announced that they have entered into a merger agreement, according to a statement by the two companies.
The Samsung-HTC deal is worth around US$7 billion, which is significantly more than what Samsung has paid for HTC’s smartphones in the past.
The deal will allow Samsung to sell HTC’s Android smartphones to a range of new partners, including AT&T, Verizon, and T-Mobile US, according the statement.
It will also allow Samsung and its new partners to sell Samsung’s new smartphones to new customers, according a statement.
The terms of the deal have not yet been disclosed.
Both companies will be able to sell devices under the Samsung name on the same platforms and carriers, the statement added.