Sweden's Ericsson announced on Tuesday plans to reduce its operations in China after suffering a big sales drop in one of its biggest markets due to retaliation for Sweden's ban on China's Huawei (HWT.UL) from selling 5G gear in the country.
Moves come after Sweden banned Huawei from 5G gearannounced on Tuesday plans to reduce its operations in China after suffering a big sales drop in one of its biggest markets due to retaliation for Sweden's ban on China's Huawei from selling 5G gear in the country.
Sweden banned China's Huawei from selling 5G gear in the country a year ago and Ericsson has since lost most of its share in the latest rounds of telecom tenders in China. Mellander said the decline started in the second quarter and would show as a year-on-year loss until the same period of next year.
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