Ericsson CEO to double down on China as 5G tussle rumbles on

STOCKHOLM: Ericsson’s top executive vowed to double down on efforts to regain market share lost in China after Sweden blocked Chinese suppliers from its 5G roll-out, a move that antagonised Beijing and has hit the equipment maker’s business.

China accounted for about 10% of Ericsson’s revenue last year, but that fell sharply after the company’s home country of Sweden banned Huawei from its 5G networks, citing security risks – a charge that Huawei has strongly denied.

Ericsson was awarded about 2% of China Mobile’s 5G contract, down from 11% last year, and got a 3% share in a joint 5G radio contract from China Telecom and China Unicom.