Ericsson to take a position over $230 million in Brazil 5G meeting line

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FILE PHOTO: An Ericsson brand is pictured at Cellular World Congress (MWC) in Shanghai, China June 28, 2019. Information/Aly Music

SAO PAULO (Information) – Swedish telecoms tools maker Ericsson plans to take a position 1 billion reais ($238.30 million) in Brazil so as to add a brand new meeting line devoted to fifth era expertise (5G), supplying its Latin American operations, an government advised Information on Monday.

The transfer is prone to stir competitors with Finland’s Nokia and China’s Huawei Applied sciences Co, which even have factories in Sao Paulo state and are racing to guide 5G deployment in Brazil.

“We already export 40% of all tools assembled in Brazil to Latin American international locations, and will probably be no totally different with 5G,” stated Eduardo Ricotta, president of Ericsson Latam South, in a cellphone interview after assembly with President Jair Bolsonaro.

Reporting by Gabriela Mello; Enhancing by Sandra Maler