Xinhua News Agency, Shanghai, November 17 (Reporter Gao Shaohua) "The Chinese market has always been a very important part of us and an important part of our rapid development in the global development, especially in the 5G field." Ericsson President and CEO Bao Yikang In a recent interview with reporters, he said that China is a market of Ericsson's strategic significance. Ericsson will continue to consolidate its partnership with China's three major operators and strive to expand its revenue in the Chinese market.
Bao Yikang said that as a communications equipment provider participating in the construction of China’s first to fifth generation mobile networks, for Ericsson, China’s major strategic significance is mainly reflected in two aspects: First, China is a large-scale market. ; Second, China is now a global innovation and entrepreneurship center. China has taken the lead in the world to deploy 4G networks on a large scale, making China the world's leader in the mobile Internet economy. 5G networks will also nurture such opportunities.
"5G is a key factor that will help promote innovation in the future. The solutions it provides will not only benefit consumers but also enterprises." Bao Yikang said that in the development of 5G, network construction is not the most important, the most important What are the applications. Therefore, in this ecosystem, the first country to launch a 5G network will have an important advantage. Because of this, Ericsson needs to increase its development in China so that it can be the first to feel what applications are available on the 5G network. Ericsson recently released its third-quarter 2020 financial report, showing that the company's net sales increased to 57.5 billion Swedish kronor (about 44.2 billion yuan). In the third quarter of this year, Ericsson's revenue in the Chinese market accounted for 8.5% of its global revenue, a year-on-year increase of about 2%-3%.
"China is a market of Ericsson's strategic significance, so we continue to invest in China in order to expand market share." Bao Yikang said that Ericsson, as a non-Chinese local company, has cooperated with China's three major operators and obtained 5G wireless Network contract, the next step will continue to consolidate the partnership with the three major operators.
