Ericsson signs 1.44-billion-dollar deal with Chinese operators
(dpa) - Swedish telecommunications equipment maker Ericsson Monday said it had signed a 1.44-billion-dollar deal with Chinese mobile operators China Mobile and China Unicom.
The deal with China Mobile was estimated at 1.3 billion dollars while the deal with China Unicom was valued at 140 million dollars, a statement from Ericsson said.
The two Chinese groups offer mobile services to some 550 million subscribers in China, and the deal with Ericsson aims at helping them expand their network capacity and introduce power-saving measures due to be completed during 2008.
The deals were inked at a ceremony in Beijing in connection with an official visit by Swedish Prime Minister Fredrik Reinfeldt and in the presence of Chinese Premier Wen Jiabao.
Ericsson chief executive Carl-Henric Svanberg also attended the ceremony in Beijing as did among others Wang Jianzhou, president of China Mobile, and Shang Bing, president of China Unicom.
In June, Sweden hosted Chinese President Hu Jintao for a three-day state visit.