Ericsson, a leader in telephony in Sweden and a leading global manufacturer of mobile phones, has managed to secure a conttrato 629.8 million dollars in China, a country of great expansion in the telecoms world, thanks to its billion potential users. The agreement porevede the expansion of the GSM network: Ericsson will provide network infrastructure, software and services for what was definta as the largest GSM expansion in China. The equipment will be provided by Nanjung Ericsson Communications, the largest joint ventures in the Swedish company in China. Ericsson in Stockholm represents an increase of 4.95%.
Posts tagged ‘China’
Alcatel, a leading French manufacturer of telephone equipment, said the mouth of the president of Alcatel China Investment Dominique de Bouisseron that will aim to sell over one million mobile phones in China. The Chinese market is regarded by management as highly strategic trans prospective owners of mobile phones is estimated at 70 million this year and 200 million by 2005.
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China Telecom, which operates in the mobile phone industry in China, announced sharp decline in profits during 1999. The net result stood at 4.8 billion yuan, down 30% compared to 1998. The reduction was due to a significant increase in the cost of renovation of the network for telecommunications.
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Seat negative for the Nikkei, which after reaching a loss of almost 2%, closing the session in partial recovery losing 0.8%. Hang Seng index also negative at the time of pause “intraday” loses 2.40%. Heavy on these markets, the prices of the securities telephone (China Telecom -4.4%).
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BP, the British oil group, should now reach an agreement with some Chinese banks for the granting of a financing package worth € 2 billion. The loan is for the construction of a large petrochemical plant, but it is mainly a dangerous precedent for foreign banks operating in the country of China. For the first time, in fact, Chinese banks have provided funding in dollars to foreign companies, activities up to now in the hands of non-credit institutions in China.