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May 24, 2012
Ericsson to help roll out Verizon's 4G network in the US
Published: 18 Feb 09 18:45 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/17678/20090218/
Sweden’s telecom equipment provider Ericsson has been chosen by Verizon Wireless to help build the United States’ first 4G wireless network.
- Ericsson profits double on sale of Sony stake (25 Apr 12)
- China and Sweden sign deals during Wen visit (25 Apr 12)
- Layoffs hit Sony Mobile workers in Lund (27 Mar 12)
“Verizon Wireless’ LTE network deployment will be driven by our vision of providing ubiquitous global wireless broadband connectivity and mobility,” Verizon CEO Dick Lynch said in a statement.
He said the new, more powerful network would help “meet consumer demand for mobilizing the many applications they frequently use when tethered to high bandwidth wired networks.”
While exact terms of the contract were not disclosed, telecoms analyst Helena Nordman-Knutson from the Öhman investment bank estimated that the order to bring Ericsson more than 20 billion kronor ($2.3 billion) over two years.
“That’s just talking about the radio equipment; Verizon needs a new network with all that entails,” she told the Dagens Industri (DI) newspaper.
Ericsson CEO Carl-Henric Svanberg emphasized the importance of the order for his company.
“When one of the world’s largest and most well-managed operators decides to roll out LTE across the entire United States it’s obviously very important,” he told DI.
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