It's the first device that can run in extremely fast 5G wireless networks. The phone will be available to Verizon customers at an unknown price in the second quarter of 2019 and will join other mobile operators this summer.
While the phone is an important step in the introduction of 5G, the network itself is not yet widely circulated to revolutionize mobile connectivity.
"A 5G phone is of strategic importance to Samsung, especially in markets where 5G will be rolled out first, for example in the US, South Korea and China," said Ben Wood, research director of market data company CCS Insights, to CNN Business.
However, there is no phone available for the US Customers who can work independently on 5G. The transition from 4G to 5G networks will not be omnipresent until 2020 and will involve infrastructure investments costing billions of dollars.
"Cellular waves needed for 5G are not moving as far as 4G and 3G, and that will take time for operators to build a sufficiently dense infrastructure network," said Ben Stanton, senior analyst at market research firm Canalys.
Experts argue that Samsung's device is an important part of the 5G development as it will help carriers test their service. It will also provide the foundation for future generations of 5G handsets.
The potential of 5G has been described by carriers and manufacturers as a major breakthrough in mobile technology.
"With 5G, the user promises enhanced broadband connectivity and services, as well as new, unique and innovative ways to interact with their devices," said Daniel McQueen of ABI Research. "It is expected that immersive user experiences will continue to evolve and, under this new paradigm, smartphones will evolve into an expanded part of a larger ecosystem that can access many applications and services."
The technology's low latency allows self-driving vehicles to process information faster and make decisions at lightning-fast speeds. It could foster the development of smart cities by enabling capabilities such as communication between connected cars and traffic lights. 5G also has a major impact on healthcare industries as it could improve advances in telemedicine and robotic surgery.
But 5G is still new and relatively under-tested, and its availability is so limited.
"Higher data speeds and throughputs are a promise, but network availability [they] will have a direct impact on the user experience," said Gerrit Schneemann, Senior Research Analyst at IHS Markit. "It's still not clear what a killer application or smartphone use case might be on 5G."
He said mobile operators in Asia are leaders in granting access to 5G. Also in terms of 5G access, Western Europe surpasses North America.
5G may still be in the making, but Samsung wants to establish itself as a world leader.
"At the beginning of the 5G deployment, there will be a footing that's important to Samsung's brand and part of the 5G journey with the carrier," said Wood of Canalys. "It can learn as much as possible about this new technology and make continuous improvements with iterative devices."