ZTCOF - Ericsson not giving up on China amid 5G disputes contract hits

Ericsson (ERIC -0.7%) is planning to double down on efforts in China despite a security rift with other countries that has hit its business there. We have been in China for 120 years and I don't intend to give up easily," CEO Borje Ekholm tells Reuters. "We are going to show that we can add value to China. The U.S. and allies notably restricted the use of equipment from China's Huawei - Sweden banned that company and ZTE (OTCPK:ZTCOY -2.3%) from its 5G network - and that's led in part to firms like state-owned China Mobile pulling its equipment purchasing from non-Chinese suppliers, notably Ericsson and Nokia (NOK -0.3%). Those two companies are now set to miss out on the world's most aggressive 5G rollout of the year. China made up 10% of Ericsson's revenue last year and that figure has fallen sharply (Ericsson got 2% of China Mobile's 5G contract

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Ericsson not giving up on China amid 5G disputes, contract hits