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Ericsson Denies Withdrawing from China Phone Market
The world's third-largest mobile phone maker, Ericsson, will not pull out of the China mobile phone market, potentially the largest one in the world, a senior company official said Friday.
Li Xiangping, vice president of Ericsson (China) Co., Ltd, who is here attending a trade meeting, said news of the company's withdrawal was groundless, and three of its mobile phone factories in China were expanding production.
The company sold three million cellular phones in China last year, accounting for one tenth of the newly increased market share last year, and one tenth of its global sales in the same year, according to statistics.
The company formally declared in January that it would stop mobile phone production in accordance with its strategic readjustment of its product structure.
Li explained that the company will keep its brand name, as it plans to contract with other companies to transfer its mobile phone production.
The company plans to increase its high-tech investment in China to US$5.1 billion, from 2.4 billion dollars at the end of October 2000, according to the company's five-year development plan for China.
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