- Telefonaktiebolaget L M Ericsson ERIC estimates a 5G market share hit in China due to Sweden’s exclusion of Chinese vendors from Sweden’s 5G network launches, based on Ericsson’s bond issue prospectus, Reuters reports.
- Interestingly, Ericsson has been invited to various ongoing tender processes in China.
- Last October, the Swedish government had banned Huawei Technologies Co., Ltd from 5G equipment supply over security concerns. Huawei challenged the ban. Huawei is expecting a decision in the upcoming weeks which could dampen Ericsson’s prospects in China.
- Price action: ERIC shares are trading lower by 1.03% at $13.39 in the premarket session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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