Ericsson awarded reduced market share in ChinaSource: RNS
Ericsson awarded reduced market share by China Mobile
· Ericsson share for China Mobile CP for 700MHz radio award is 2%
· Decision reflects earlier market guidance in connection with global risk factors
Following a review of bids in the CP for 700MHz radio round of China's 5G network development, Ericsson has been awarded 2% market share.
In line with earlier market guidance to investors, this is materially lower than the market share previously awarded to the company in the 2.6GHz CP2 (11%).
China Mobile is the first operator to award under the latest round of CP's for 5G radio. Given the context and based on the bidding rules, should Ericsson be awarded business in China Unicom and China Telecom we believe it would be in a similar range as with the China Mobile award.
As previously disclosed by Ericsson (NASDAQ: ERIC) most recently in its Q2 2021 financial report and in its 2020 annual report, the risk of lower market share award follows the decision by the Post and Telecommunication Authority (PTS) to exclude Chinese vendors' products from the 5G auction in Sweden.
NOTES TO EDITORS:
Subscribe to Ericsson press releases here.
Subscribe to the Ericsson Blog here.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Peter Nyquist, Head of Investor Relations
Phone: +46 705 75 29 06
(+46 10 719 00 00)
Peter Olofsson, Head of External Relations Business & Technology
Phone: +46 702 67 34 45
Phone: +46 10 719 69 92
Ericsson enables communications service providers to capture the full value of connectivity. The company's portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson's investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com
This release includes forward-looking statements, including statements reflecting management's current views relating to the growth of the market, future market conditions, future events, financial condition, and expected operational and financial performance, including, in particular the following:
- Our goals, strategies, planning assumptions and operational or financial performance expectations
- Industry trends, future characteristics and development of the markets in which we operate
- Our future liquidity, capital resources, capital expenditures, cost savings and profitability
- The expected demand for our existing and new products and services as well as plans to launch new products and services including research and development expenditures
- The ability to deliver on future plans and to realize potential for future growth
- The expected operational or financial performance of strategic cooperation activities and joint ventures
- The time until acquired entities and businesses will be integrated and accretive to income
- Technology and industry trends including the regulatory and standardization environment in which we operate, competition and our customer structure.
The words "believe," "expect," "foresee," "anticipate," "assume," "intend," "likely," "projects," "may," "could," "plan," "estimate," "forecast," "will," "should," "would," "predict," "aim," "ambition," "seek," "potential," "target," "might," "continue," or, in each case, their negative or variations, and similar words or expressions are used to identify forward-looking statements. Any statement that refers to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
We caution investors that these statements are subject to risks and uncertainties many of which are difficult to predict and generally beyond our control that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.
Important factors that could affect whether and to what extent any of our forward-looking statements materialize include, but are not limited to, the factors described in the section "Risk Factors" in the latest interim report, and in "Risk Factors" in the Annual Report 2020.
These forward-looking statements also represent our estimates and assumptions only as of the date that they were made. We expressly disclaim a duty to provide updates to these forward-looking statements, and the estimates and assumptions associated with them, after the date of this release, to reflect events or changes in circumstances or changes in expectations or the occurrence of anticipated events, whether as a result of new information, future events or otherwise, except as required by applicable law or stock exchange regulations.
This is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 05:00 PM CEST on July 19, 2021.