Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Ericsson wins 5G radio contracts in China - sources

08/02/2021 | 04:56am EDT
A sign for 5G is seen at the World 5G Exhibition in Beijing

(Adds details about the contracts, background on China deals, geopolitics)

STOCKHOLM/SHANGHAI, Aug 2 (Reuters) - Sweden's Ericsson won a 3% share in a joint 5G radio contract from China Telecom and China Unicom, according to sources familiar with the matter.

Nokia, which was expected to take away Ericsson's market share in China, did not receive any share, according to a tender document published by the Chinese companies.

While the tender document doesn't disclose the percentage wins, Huawei and ZTE were expected to have cornered a major share of the contracts, followed by state-owned Datang Telecom.

Ericsson, which had warned that it would lose market share in China due to the ban of Chinese equipment suppliers in Sweden, saw its share in China Mobile drop to 2% from 11% last year, while Nokia got 4% of the contracts announced https://www.reuters.com/technology/nokia-wins-first-5g-radio-contract-china-2021-07-19 in July.

European governments have been tightening controls on Chinese companies building 5G networks following diplomatic pressure from Washington, which alleges Huawei equipment could be used by Beijing for spying. Huawei has repeatedly denied being a national security risk.

Nokia, which is back on the growth path after fixing its earlier product missteps and gaining share in several markets, said it was aware of the tender results in China.

"We respect the customers' decision and remain committed to continuing to support China Telecom and China Unicom’s business in the future," a spokesperson said.

This was the second phase of the 5G radio contracts by Chinese telecom operators and covers thousands of new base stations.

While Chinese markets are highly competitive and price sensitive, huge volumes of 5G gear being deployed in the country makes it an attractive market. (Reporting by Supantha Mukherjee in Stockholm and Brenda Goh in Shanghai, Editing by Louise Heavens and Emelia Sithole-Matarise)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA MOBILE LIMITED 0.32% 47.15 End-of-day quote.6.67%
CHINA TELECOM CORPORATION LIMITED 1.16% 2.61 End-of-day quote.21.40%
CHINA UNICOM (HONG KONG) LIMITED 0.76% 3.97 End-of-day quote.-10.79%
DATANG TELECOM TECHNOLOGY CO., LTD. 1.22% 8.33 End-of-day quote.-19.05%
ERICSSON 1.14% 97.24 Delayed Quote.-1.67%
NOKIA OYJ 1.65% 4.709 Delayed Quote.46.79%
ZTE CORPORATION 0.21% 34 End-of-day quote.1.04%
Latest news "Economy & Forex"
08:27aTaiwan applies to join Pacific trade pact CPTPP - official news agency
RE
08:26aCALIX : Grow your Business Securely With Insights From Shark Tank Star and Cybersecurity Entrepreneur Robert Herjavec at Calix ConneXions 2021
BU
08:25aNigerian lawmaker questions why coal power projects have stalled
RE
08:25aPM JOHNSON : There is every prospect of a U.S. trade deal
RE
08:23aTaiwan applies to join Pacific trade pact CPTPP - official news agency
RE
08:23aAtlas Air Expands FedEx Air-Freighter Contract
DJ
08:20aChina to strengthen policy coordination to cope with challenges - cabinet
RE
08:19aFormer UK regulator Ross to chair EU securities watchdog ESMA
RE
08:16aCHINA EVERGRANDE : Wall St set to rise on easing Evergrande concerns; Fed in focus
RE
08:14aTaiwan formally applies to join pacific trade pact cptpp - official news agency
RE
Latest news "Economy & Forex"