Ericsson signs $400 million frame agreement to supply digital mobile phones to China.STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden--(BUSINESS WIRE)--Nov. 5, 1996-- Ericsson Er·ics·son , John 1803-1889. American engineer and inventor who built the first ironclad warship, the Monitor (1862), which engaged the Confederate Merrimack in a famous naval battle of the Civil War (March 9, 1862). Leads Digital Phone Market in China with 40% Share Ericsson signed a $400 million frame agreement with two of its Chinese business partners for delivery of digital mobile phones to China during 1997. The agreements were signed with the China National Posts and Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. Industry Corporation (PTIC) and the China National Posts and Telecommunications Appliances Corporation (PTAC PTAC Procurement Technical Assistance Center (US DoD) PTAC Poids Total Autorisé en Charge PTAC Packaged Terminal Air Conditioning PTAC Petroleum Technology Alliance of Canada PTAC Printing Technology Association of China ), acting as two major distributors in China under the Ministry of Posts and Telecommunications (MPT MPT Maryland Public Television MPT Modern Portfolio Theory (investing) MPT Ministry of Posts and Telecommunications MPT Message-Passing Toolkit MPT Master of Physical Therapy MPT Mitochondrial Permeability Transition ). "We are pleased to further strengthen our partnership with PTIC and PTAC, both of whom have been Ericsson's distributors since the beginning of this year. We have had a tremendous success in marketing our mobile phones in China, and now with more than 40 percent share in the digital phone market, Ericsson is no doubt the market leader in China," said Jan Ahrenbring, Marketing Director of Ericsson Mobile Communications. "With these frame agreements, we are well positioned to successfully develop our business further, all together with our business partners," added Ahrenbring. Ericsson's 90,000 employees are active in more than 100 countries. Their combined expertise in switching, radio and networking makes Ericsson a world leader in telecommunications. CONTACT: Kathy Egan/Lars Jonsteg, 212/685-4030 |
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