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Ericsson to Chalk up US$5.1 Billion of New Investment in China
China's fast developing IT market has virtually become a contesting ground for various foreign enterprise giants like Motorola, Siemens and Nokia. Lars Ramqvist, board chairman and CEO of Ericsson Company, told news media in Beijing that Ericsson will make US$2.7 billion more in addition to US$2.4 billion of IT investment in China in coming five years.
Lars Ramqvist said that China is Ericsson's second biggest business partner occupying a 10% of Ericsson's world market share, it is of weighty importance for Ericsson in implementing its global strategy. As is demanded for heated market competition, Ericsson must pour in an increased amount of investment in order to win out in competition with other counterparts in China, he added.
New job opportunities are to be created, increased exports developed and greater potential manpower and research resources exploited according to Ericsson's new investment plan on account of the fact that China is to have big strides on its 10th Five-year Plan in next five years, Lars Ramqvist said.
By PD Online staff Huang Ying
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