Record deal for Ericsson
Swedish telecommunications company Ericsson has won a US$ billion order from Indian phone operators Bharti Airtel.
The deal forms the largest order ever received by Ericsson, and comes just days after the company announced its joint venture with Sony, SonyEriccson, had made a 53% rise in net profit for the second quarter of 2007.
Under the terms of the Indian contract, the Stockholm-based Eriksson will enlarge Bharti’s network, allowing the company to expand its reach into rural areas of India.
Ericsson is now ranked at 284 in the Fortune 500 list of the world’s most successful businesses, with a turnover of some US$24 billion.