Ericsson wins $1.3 bn order from Bharti

Ericsson wins $1.3 bn order from Bharti
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First Published: Wed, Mar 31 2010. 09 50 PM IST
Updated: Wed, Mar 31 2010. 09 50 PM IST
Stockholm: Mobile telecom equipment firm Ericsson AB said on Wednesday it had won a $1.3 billion (Rs5,863 crore) network expansion contract from telecom operator Bharti Airtel Ltd, its third major order in three days, and its largest deal in eight months.
Ericsson said it will expand and upgrade Bharti Airtel’s GSM (global system for mobile communications) network in 15 of India’s 22 telecom circles during 2010-11.
“In addition, Ericsson will ensure that Bharti Airtel’s core and transport network is 3G-ready in order to reduce time to market and enable the fast rollout of 3G (third-generation) services at a later date,” Ericsson said in a statement.
Nokia’s NSN unit in February won a $700 million deal for the remaining circles.
The deal boosted shares in Ericsson 1% at 9pm, outperforming slightly firmer European technology shares.
“It is clear the deal on the screen helps to create a positive sentiment,” said analyst Hakan Wranne from Swedbank.
Ericsson on Monday signed two deals with China’s top operators—a $1 billion contract with China Mobile Ltd and a $800 million deal with China Unicom (Hong Kong) Ltd.
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First Published: Wed, Mar 31 2010. 09 50 PM IST