Telecoms kick

29 January 2021 By Ed Cropley Follow @edwardcropley

The $41 bln Swedish telecoms kit maker’s prospects are soaring due to Western bans on Chinese rival Huawei. But the Middle Kingdom is also its hottest 5G equipment market. The risk of reprisals should its own government ban Huawei are increasing.

This content is for Subscribers only

Context News

Ericsson beat fourth-quarter core earnings forecasts on Jan. 29, helped by strong sales of 5G equipment and the ban on Chinese rival Huawei Technologies in several countries.

The Swedish telecommunication equipment maker said operating profit for the final three months of 2020 rose to 11 billion Swedish crowns ($1.3 billion) from 6.5 billion crowns a year earlier. According to Refinitiv estimates, analysts had been expecting 8.6 billion crowns.

Ericsson shares were up 9.1% at 107.5 Swedish crowns by 0900 GMT on Jan. 29.

Email a friend

Please complete the form below.

Required fields *