Ericsson Stock Gains On Scooping 5G Radio Contracts In China: Reuters

  • Telefonaktiebolaget L M Ericsson ERIC won a 3% share in a joint 5G radio contract from China Telecom Corp Ltd CHJHF and China Unicom (Hong Kong) LtdCHUFFReuters reports
  • Interestingly, Nokia Oyj 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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