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India doesn't name Huawei among participants in 5G trials

05/04/2021 | 11:57am EDT
FILE PHOTO: The Huawei logo is seen at the IFA consumer technology fair, in Berlin

NEW DELHI (Reuters) - India will allow mobile carriers to carry out 5G trials with equipment makers including Ericsson, Nokia and Samsung's network unit, the government said on Tuesday, but did not name China's Huawei among the participants.

Major carriers Reliance Industries' Jio Infocomm, Bharti Airtel and Vodafone Idea will conduct the trials along with state-run MTNL in urban, rural and semi-urban areas, the Ministry of Communications said in a statement.

The statement did not mention Huawei and smaller Chinese rival ZTE among the participating network equipment suppliers.

Huawei declined to comment, while ZTE and the Indian ministry did not immediately respond to requests for comment about the list of companies involved.

While India has not named the Chinese players as taking part in the six-month trials, which aim to test 5G gear and technology in different environments, it has not banned them from supplying 5G equipment to carriers.

Two government officials told Reuters in March, though, that New Delhi will likely block mobile carriers from using telecom equipment made by Huawei, under procurement rules due to come into force in June.

India is the world's second-biggest market by number of phone users. Authorities are wary of awarding new technology business to Chinese companies because of security concerns, government sources have previously said, and a desire to help local telecoms equipment manufacturers.

The government's telecoms department said in March that, after June 15, carriers can only buy certain types of equipment from state-approved "trusted sources" and said New Delhi could also create a "no procurement" list of banned suppliers.

Huawei and ZTE are likely to be on this embargoed list, Reuters reported in March.

(Reporting by Sankalp Phartiyal; Editing by Pravin Char)


© Reuters 2021
Stocks mentioned in the article
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BHARTI AIRTEL LIMITED 1.41% 559.9 End-of-day quote.9.94%
ERICSSON AB -0.17% 116.04 Delayed Quote.19.07%
MAHANAGAR TELEPHONE NIGAM LIMITED 4.67% 16.8 End-of-day quote.21.48%
NOKIA OYJ 0.06% 4.0385 Delayed Quote.28.05%
RELIANCE INDUSTRIES LTD 0.18% 1922.5 Delayed Quote.-3.28%
SAMSUNG ELECTRONICS CO., LTD. 1.10% 82600 End-of-day quote.1.98%
ZTE CORPORATION -0.82% 28.95 End-of-day quote.-13.97%
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Sales 2021 115 B 17 778 M 17 778 M
Net income 2021 5 959 M 920 M 920 M
Net cash 2021 3 806 M 587 M 587 M
P/E ratio 2021 22,5x
Yield 2021 0,95%
Capitalization 124 B 19 116 M 19 098 M
EV / Sales 2021 1,04x
EV / Sales 2022 0,92x
Nbr of Employees 73 709
Free-Float 71,4%
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Number of Analysts 19
Average target price 39,61 CNY
Last Close Price 28,95 CNY
Spread / Highest target 71,0%
Spread / Average Target 36,8%
Spread / Lowest Target 3,28%
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Zi Yang Xu President, CEO & Executive Director
Li Ying Chief Financial Officer & Executive Vice President
Da Xiong Xie Chairman-Supervisory Board
Zi Xue Li Chairman
Man Li Cai Independent Non-Executive Director
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