Ericsson shares hit a high for the year after the Swedish telecom equipment maker increased its footprint in Canada by winning a 5G contract from ...
Ericsson shares hit a high for the year after the Swedish telecom equipment maker increased its footprint in Canada by winning a 5G contract from Bell Canada, beating out China's Huawei.
Bell Canada, part of BCE Corp, had relied on Huawei for deploying 4G infrastructure but went with Ericsson as Canada was deliberating whether to allow Huawei to sell 5G equipment in the country.The United States has raised security concerns about Huawei and has warned that allies that use its equipment in their networks risked being cut off from valuable intelligence sharing. Huawei has repeatedly denied the U.S. allegations.
Ericsson had earlier signed one of Canada's largest wireless carriers, Rogers Communications, as a 5G customer. Bell Canada, Canada's second-largest cellphone provider by wireless revenue, would have to spend about US$200 million over the next few years to swap out Huawei gear, Scotiabank analyst Jeff Fan said.
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