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Ericsson makes a USD 1 billion deal with China Mobile

Ericsson Have signed an agrrement  AImed to GSM expansion framework with china mobile which is worth 1 billion .

The Chinese President Hu Jintao signed the agreemet who was in Sweden on a state visit at the invitation of King Carl XVI Gustaf of Sweden – the first visit by a Chinese president to Sweden since the two countries established diplomatic relations in 1950.

President Hu Jintao was joined at the signing ceremony by Swedish Prime Minister Fredrik Reinfeldt. Wang Jianzhou, Chief Executive of China Mobile Communications Corporation, and Carl-Henric Svanberg, President and CEO of Ericsson, joined the two leaders at the ceremony.

Svanberg says: “Ericsson is proud of its cooperation with China, which dates back over a century. We are dedicated to supporting the development and growth of China’s telecom industry with our global expertise and proven competence. The agreement we are announcing today is further proof of this.”

Ericsson’s commitment to operations in China is reflected by its continuous increase in local sourcing, up to USD 2.5 billion in 2006, and growing export opportunities, with USD 1.6 billion in exports last year.

Under the new framework agreement, Ericsson will supply core and radio network equipment, along with related technical support and services, to expand China Mobile’s GSM coverage in 19 regions of China

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June 12, 2007 - Posted by | ericsson

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