Ericsson unveils USD1bn plan

7 Sep 2005

Swedish equipment manufacturer Ericsson has revealed plans to invest USD1 billion in China over the next five years. Dow Jones reports that the money will be pumped into areas including manufacturing, R&D and service capacity expansion and will also call for what the Swedish firm terms “significant local purchasing”. Meanwhile, the head of Ericsson’s operations in China, Mats H. Olsson, said he expects the government there to award 3G licences early in 2006. He added that his company is aiming to take a 35% share of China’s W-CDMA 3G market.

China, Ericsson