Swedish telecom equipment maker Ericsson has reported upbeat third quarter earnings, helped mainly by the rollout of 5G wireless networks in China and a strong U.S. market. Ericsson Chief Executive Borje Ekholm said the company’s contracts for the next generation 5G networks in mainland China “have developed according to plan, contributing positively to profits in Q3 and are expected to improve further”. Ericsson competes in the 5G business with China’s Huawei and Finland’s Nokia, the two other main global network suppliers. Ericsson said it now has 112 commercial 5G agreements with 65 live networks with different operators. Nordic rival Nokia plays catch up, saying on its webpage that it has secured 101 commercial 5G deals with 36 live networks as of October 21.

Source: The Standard October 22, 2020 11:03 UTC