3G business reviving Ericsson India's fortunes
Monday, 2nd May 2011
Ericsson AB (Nasdaq: ERIC) sounds bullish in India. The Swedish vendor just announced a significant ramp in revenues in the mobile-hungry country and has invested further in its increasingly important local manufacturing facilities.
On the financial front, Ericsson reported first-quarter revenues in India of 3.2 billion Swedish kronor (US$531 million), up 38 percent from a year earlier and up 11 percent from the final three months of 2010. That means 6 percent of the company's total first-quarter revenues came from India. (See Mobile Data Fuels Ericsson's Q1 .)
That's a big leap, but there are reasons for such a sharp increase. India's 3G operators have been rapidly building out their new networks, and Ericsson is one of (if not the) leading 3G supplier to date in India, so that particular line of business is strong currently.
Publication : Light Reading
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