Ericsson to invest US$1bn in China
8 September 2005
Ericsson will invest US$1 billion in China over the next five years in manufacturing and research to meet the rising demand for high-speed wireless services, Bloomberg reported, citing Carl-Henric Svanberg, the company's CEO. Ericsson says it has 35% of the GSM market in greater China and is the biggest supplier to China Mobile (Hong Kong), the country's largest mobile phone company.
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