Ericsson Concerned Over Chinese 5G Market Share Hit From Sweden's Exclusion Of China: Reuters

Telefonaktiebolaget L M Ericsson (NASDAQ: 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.