SWEDISH telecoms giant ericsson has vowed to regain Chinese market share lost after the Stockholm blocked Chinese suppliers from its 5G roll-out, a move that antagonised Beijing and crippled the firm's business in China, Reuters reports.
China accounted for about 10 per cent of Ericsson's revenue last year, but that fell sharply after the company's home country Sweden banned Huawei from its 5G networks, citing security risks-a charge that Huawei has strongly denied.
Ericsson was awarded two per cent of China Mobile's 5G contract, down from 11 per cent last year, and got a three per cent share in a joint 5G radio contract from China Telecom and China Unicom.
'We have been in China for 120 years and I don't intend to give up easily,' said Ericsson CEO Borje Ekholm. 'We are going to show that we can add value to China.'
SeaNews Turkey
China accounted for about 10 per cent of Ericsson's revenue last year, but that fell sharply after the company's home country Sweden banned Huawei from its 5G networks, citing security risks-a charge that Huawei has strongly denied.
Ericsson was awarded two per cent of China Mobile's 5G contract, down from 11 per cent last year, and got a three per cent share in a joint 5G radio contract from China Telecom and China Unicom.
'We have been in China for 120 years and I don't intend to give up easily,' said Ericsson CEO Borje Ekholm. 'We are going to show that we can add value to China.'
SeaNews Turkey
