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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  ZTE Corporation    000063   CNE000000TK5

ZTE CORPORATION

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Ericsson takes issue with Swedish ban on Huawei - FT

11/18/2020 | 02:33pm EST
FILE PHOTO: Ericsson Chief Executive Officer Borje Ekholm holds a news conference during the Mobile World Congress in Barcelona

STOCKHOLM/LONDON (Reuters) - Sweden's decision to ban China's Huawei from its 5G networks restricts free competition and trade, the head of rival telecoms equipment supplier Ericsson told the Financial Times.

Swedish telecoms regulator PTS this month halted 5G spectrum auctions after a court suspended parts of its decision that had excluded Huawei from 5G networks over national security risks.

"I belong in that category that believes competition makes us longer term a better company. It may be painful shorter term but longer term it drives us to be more innovative and make better products for our customers," Ericsson CEO Borje Ekholm told the newspaper.

Sweden's Ericsson has won contracts from all three major operators in China to supply radio equipment for 5G networks, while Finnish rival Nokia has not won any 5G radio contracts in the highly competitive market.

Huawei denies being a national security risk and has appealed against Sweden's decision.

China's foreign ministry has said Sweden should lift the ban on Huawei and peer ZTE to avoid a negative impact on Swedish companies in China.

Ekholm said he expected the overall rollout of the new telecoms networks to be delayed, adding the political focus in Europe should be on rolling out 5G as fast as possible.

"Think about 4G - the debate in Europe was: what is the killer app? The Americans and Chinese rolled out 4G fastest and the app economy for consumers is now dominated by American and Chinese firms," he said.

"5G is going to be the same but for enterprise. Slowing the rollout of 5G is a risk for the economy. Europe risks falling behind again."

Separately, finance chief Carl Mellander told the Morgan Stanley Technology, Media and Telecoms conference that fair competition benefitted the whole industry ecosystem.

He also said Ericsson was growing its market share in Europe, where Huawei is facing increasing restrictions.

"We will continue to take market share where there is an opportunity which is truly value creating," he said.

"For the right cases, perhaps in urban areas for example where we know that the traffic will continue to grow, (or) with leading operators (...) those cases we are happy to step into, even if it sometimes needs a bit of margin dilution in the initial stages."

(Reporting by Helena Soderpalm in Stockholm and Paul Sandle in London. Editing by Jane Merriman and Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ERICSSON AB 0.36% 99.06 Delayed Quote.1.45%
MORGAN STANLEY -1.61% 75.24 Delayed Quote.9.79%
NOKIA OYJ -0.89% 3.3525 Delayed Quote.6.39%
PTS INC. -90.55% 0.0211 Delayed Quote.0.00%
ZTE CORPORATION -2.26% 35.1 End-of-day quote.4.31%
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Financials
Sales 2020 102 B 15 762 M 15 762 M
Net income 2020 4 253 M 656 M 656 M
Net Debt 2020 716 M 110 M 110 M
P/E ratio 2020 33,9x
Yield 2020 0,64%
Capitalization 149 B 22 987 M 22 986 M
EV / Sales 2020 1,47x
EV / Sales 2021 1,30x
Nbr of Employees 70 066
Free-Float 71,4%
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Technical analysis trends ZTE CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 39,26 CNY
Last Close Price 35,10 CNY
Spread / Highest target 41,0%
Spread / Average Target 11,8%
Spread / Lowest Target -24,5%
EPS Revisions
Managers and Directors
NameTitle
Zi Yang Xu President, CEO & Executive Director
Da Xiong Xie Chairman-Supervisory Board
Zi Xue Li Chairman
Li Ying Chief Financial Officer & Executive Vice President
Jun Feng Wang Member-Supervisory Board
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