Read news from:
Austria
SHARE
COPY LINK

TELECOM

Ericsson lands major deal in Vietnam

Swedish mobile phone network supplier Ericsson announced on Monday the signing of a $450 million deal to help Hanoi Telecom's modernize its mobile network in Vietnam.

Published: 1 September 2008 13:57 CEST

Ericsson said the three-year managed services contract, the largest it has ever signed in Vietnam, called for it to manage, operate and redesign Hanoi Telecom’s nationwide network.

The Swedish company will be responsible for migrating the network from CDMA technology to the more internationally compatible GSM/EDGE system, supplying among other things radio access network equipment and optical and microwave transmission, it said in a statement.

“Deployment has started and commercial launch is set for the end of 2008,” Ericsson said in a statement.

SWEDEN AND UKRAINE

Ericsson suspends all Russia operations indefinitely

Swedish network equipment maker Ericsson said Monday that it was suspending all of its Russian operations over the war in Ukraine for the foreseeable future.

Published: 11 April 2022 19:42 CEST
Ericsson suspends all Russia operations indefinitely

The telecom giant already announced in late February that it would stop all deliveries to Russia following Moscow’s February 24 invasion of Ukraine.

“In the light of recent events and of European Union sanctions, the company will now suspend its affected business with customers in Russia indefinitely,” Ericsson said in a statement.

The company added that it was “engaging with customers and partners regarding the indefinite suspension of the affected business.”

“The priority is to focus on the safety and well-being of Ericsson employees in Russia and they will be placed on paid leave,” it said.

READ ALSO: How has Sweden responded to Putin’s war in Ukraine so far?

Hundreds of Western firms ranging from Ikea to Coca-Cola, Goldman Sachs and McDonald’s have stopped operations in the country since the invasion, with French banking group Societe Generale announcing Monday it was selling its stake in Russia’s Rosbank.

Ericsson has around 600 employees in Russia, and is a “major supplier to the largest operator MTS and the fourth largest operator Tele2,” a company spokeswoman told AFP, adding that together with Ukraine, Russia accounts for less than two percent of revenue.

As a result, the equipment maker said it would record a provision for 900 million Swedish kronor ($95 million, 87 million euros) for the first quarter of 2022 for “impairment of assets and other exceptional costs,” though no staff redundancy costs were included.
Ericsson is due to publish its first quarter earnings on April 14.

SHOW COMMENTS