09:22 PM EDT, 08/02/2021 (MT Newswires) -- China Telecom (HKG:0728) and China Unicom (SHA:600050, HKG:0762) awarded 3% of their 5G radio contract to Swedish telecommunications giant Ericsson, beating Finland's Nokia, Reuters reported Monday, citing sources familiar with the matter.
Nokia did not receive any share, the report said, citing a tender document.
About two weeks ago, China Mobile (HKG:0941) awarded Nokia its first 5G radio contract alongside Chinese telco giants Huawei Technologies and ZTE (SHE:000063, HKG:0763).
Nokia's local subsidiary Shanghai Nokia Bell won 10.1% of the contract, while Huawei took the larger share 61.1% and ZTE secured 28.8%.
Most recently, Reuters reported that Huawei and ZTE were also expected to have secured a major share of the contracts, alongside Datang Telecom (SHA:600198).
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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