Ericsson : inks $3.5 billion 5G deal with T-Mobile US

STOCKHOLM (Reuters) - Mobile telecom gear maker Ericsson said on Tuesday it had signed a $3.5 billion (2.69 billion pounds) multi-year deal to support T-Mobile US 5G network deployment, the biggest 5G order that Ericsson has announced.

T-Mobile, the third biggest U.S. mobile carrier, said in February it was working with Ericsson and rival network vendor Nokia of Finland to build out 5G networks in 30 U.S. cities during 2018.

Nokia announced in July that it had agreed on an equally big deal with T-Mobile US.

Ericsson increased its market share of the mobile networks market in the second quarter, partly due to faster network upgrades in the North American, where it ranks as the biggest supplier ahead of Nokia.

(Reporting by Olof Swahnberg)

Stocks treated in this article : Nokia Oyj, Ericsson, T-Mobile US