Ericsson gets $1.33 billion 5G contract from VodafoneThree [Yahoo! Finance Canada]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Yahoo! Finance Canada
eight-year deal worth 12.5 billion Swedish crowns ($1.33 billion) to supply 5G communications equipment to VodafoneThree's UK mobile network. In June, Vodafone and CK Hutchison completed the merger of their UK operations, creating a new business called VodafoneThree and laid out plans to invest 11 billion pounds ($14.8 billion) over 10 years to build one of Europe's most advanced 5G networks. Ericsson will introduce new 5G radio products into the VodafoneThree network, comprising AI and energy-optimized hardware and smart antennas, aimed at providing customers in London, Edinburgh, Cardiff and Belfast with significantly enhanced data speeds, the company said. For the Swedish company, the European contract comes at a time when there is a slowdown in markets such as India and tariffs dampen profits from sales in the United States. ($1 = 9.3869 Swedish crowns) ($1 = 0.7431 pounds) (Reporting by Supantha Mukherjee in Stockholm; Editing by Mrigank Dhaniwala) Recommended Stori
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