Ericsson Wins $1.7 Billion Deals With Chinese Operators
July 08 2009 - 6:35AM
Dow Jones News
L.M. Ericsson Telephone Co. (ERIC) said Wednesday it has won
deals worth a total of $1.7 billion to deliver mobile communication
equipment and related services to Chinese operators China Mobile
Communications Corp and China Unicom.
The framework contract with China Mobile, valued at $1 billion,
includes products and solutions to expand the company's networks in
18 Chinese provinces.
Under the framework agreement with China Unicom, valued at $700
million, Ericsson will upgrade the operator's GSM networks in 10
provinces and provide GSM/WCDMA networks and wireless access system
in 15 provinces.
"The signing of the 2009 framework agreements today further
enhances the position of Ericsson as the leading mobile
communications supplier in China market," the equipment vendor's
president of Greater China Mats H Olsson said.
At 0951 GMT, shares in Ericsson were up 1.1% at SEK75.60,
outperforming a 0.1% drop in the broader Stockholm market.
Company Web site: http://www.ericsson.com
-By Gustav Sandstrom, Dow Jones Newswires; +46-8-5451-3099;
gustav.sandstrom@dowjones.com