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Ericsson Secures New 5G Contract with Bharti Airtel, Boosting Prospects in India
Ericsson has secured a new multi-billion dollar contract with India's Bharti Airtel for 5G equipment, marking a significant boost in its business prospects in the region.
Swedish telecom giant Ericsson has reportedly secured a new multi-billion dollar contract to supply 5G equipment to India's Bharti Airtel, according to sources familiar with the matter. This development comes as a significant boost for Ericsson, which has faced a decline in contracts from India earlier this year. The new deal is expected to enhance Ericsson's revenue in the coming year, following a 44% drop in sales in Southeast Asia, Oceania, and India during the second quarter of 2024.
The contract with Bharti Airtel follows Ericsson's recent success in securing a portion of a $3.6 billion contract with Vodafone Idea, shared with competitors Nokia and Samsung. The demand for 5G technology in India has been on the rise since 2023, driven by major telecom operators like Airtel and Jio, a unit of Reliance Industries, expanding their 5G services. This surge in demand has helped offset a slowdown in Ericsson's primary U.S. market, where telecom operators have been reducing their spending.
Ericsson's shares saw a rise of up to 1.8% following the news of the contract, reflecting investor optimism about the company's future prospects in the Indian market. While Ericsson and Bharti Airtel have not officially commented on the deal, the rollout of the new 5G infrastructure is expected to commence next year, further solidifying Ericsson's position in the competitive telecom equipment market.
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