Page last updated at 12:12 GMT, Monday, 29 March 2010 13:12 UK

Ericsson announces $1.8bn China deals

Ericsson sponsored yacht
Ericsson's profits fell dramatically last year

Swedish telecoms equipment group Ericsson has announced deals with China Mobile and China Unicom worth a combined $1.8bn (£1.2bn).

Ericsson will provide China Mobile, the world's biggest mobile operator, with equipment to boost the capacity of its mobile network.

It will supply its rival, China Unicom, with a faster 3G network.

China is the world's biggest mobile phone market with more than 700 million mobile users.

"The signing of the significant frame agreements is a manifestation of our continued strong co-operation with our Chinese customers," said Mats Olsson, head of Ericsson in China.

Earlier this year, Ericsson reported a 92% fall in quarterly profits as the company continued major restructuring work.

Net profit for October to December was 314m kronor ($43m; £29m), compared with 3.89bn kronor for the same quarter in 2008.



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