MANHASSET, N.Y. Swedish mobile phone supplier Ericsson has announced it would invest $1 billion in China over the next three years to meet growing demand for 3G and 4G telecom services there.
At the company’s Strategy & Technology Summit in Shanghai, Ericsson president and chief executive Carl-Henric Svanberg said the growing demand for mobile content and the handset's emerging role as a media channel will pave the way for a faster deployment of 3G and HSDPA.
"Users demand more mobile content, operators are looking for new revenue sources and media companies need new distribution channels. This is in line with our vision of an all-communicating world and we are confident that the mobile content industry has wonderful potential," Svanberg said.
In conjunction with the summit, Svanberg said that Ericsson has signed a research agreement with Shanghai Research Centre for Wireless Communications (SHRCWC). Under the agreement, Ericsson will collaborate with SHRCWC to develop future telecommunications technology such as Super 3G and 4G.