Ericsson Stock Gains On Scooping 5G Radio Contracts In China: Reuters

Telefonaktiebolaget L M Ericsson ERIC won a 3% share in a joint 5G radio contract from China Telecom Corp Ltd CHJHF and China Unicom (Hong Kong) LtdCHUFF, Reuters reports.
Interestingly, Nokia Oyj NOK did not win share.
Huawei Technologies Co., Ltd and ZTE Corp were likely to have cornered a significant share of the contracts, followed by state-owned Datang Telecom.
Ericsson previously expressed concerns over losing 5G market share in China.
Price action: ERIC shares traded higher by 1.26% at $11.68 on the last check Monday.