BIZCHINA / Center
Ericsson signs US$1b China GSM deal
(Reuters)
Updated: 2007-06-11 15:50
Telecoms network firm Ericsson on Sunday signed a framework agreement to
provide US$1 billion worth of networking equipment to China Mobile
Communications Corp.
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Ericsson Chief Executive Carl-Henric Svanberg signed the deal in
Stockholm during a state visit by China's President Hu Jintao, the first
by a Chinese leader to Sweden.
"The most important thing was that we signed a contract today for
deliveries of US$1 billion worth of telecoms equipment. We have a third
of the telecom market in China so this was another significant step in
that development," Svanberg told reporters at the ceremony.
Ericsson said the new framework agreement would see it supply core and
radio network equipment, along with related technical support and
services, to China Mobile as it expands GSM coverage in 19 regions of
China.
The Swedish company said deliveries had already started.
(For more biz stories, please visit Industry Updates)
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