Ericsson Stock Gains On Scooping 5G Radio Contracts In China: Reuters
- Telefonaktiebolaget L M Ericsson (NASDAQ: ERIC) won a 3% share in a joint 5G radio contract from China Telecom Corp Ltd (OTC: CHJHF) and China Unicom (Hong Kong) Ltd(OTC: CHUFF), Reuters reports.
- Interestingly, Nokia Oyj (NYSE: 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.
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