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Ericsson plans cut in China ops on Huawei backlash, flags supply chain issues

October 20, 2021
Source: freeamericanetwork.com freeamericanetwork.com
News Snapshot:
FILE PHOTO: Ericsson logo is seen at its headquarters in Stockholm, Sweden June 14, 2018. REUTERS/Olof Swahnberg October 19, 2021 By Supantha Mukherjee STOCKHOLM (Reuters) – 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 from selling 5G gear in the country. The news came as the company reported better than expected third-quarter core earnings boosted by strong sales of 5G equipment in most of the world, offsetting a loss of market share in mainland China...
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Tags: 5G | America | AT&T | ban | boycott | CEO | chief financial officer | China | chip | delivery | equipment | Ericsson | executive | finance | financial | Huawei | logistics | manufacturing | mobile | Nokia | revenue | supply chain | Sweden | United States | USA

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