Ericsson increases investment in China
To maintain a competitive edge on rivals Motorola, Nokia and Alcatel, all of which have announced plans to sharpen their focus on China, Ericsson has announced it will create 29,000 new jobs in the country as well as triple the exports coming out of it by 2005.
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Despite its cost-cutting plan, which has demanded it cut 22,000 jobs throughout its other markets, Ericsson has decided to double its investment in China over the 2001-2005 period to more than $5 billion, including spending by Chinese joint venture partners.
--Kelly Carroll, Staff Writer
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© 2012 Penton Media Inc.
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