Ericsson Gets $369-Million Order From China

L.M. Ericsson won a $369-million order to expand a telecommunications network in China, its biggest ever in the country. The Swedish telecommunications equipment maker will supply state-owned Guangdong Mobile Communications Corp. with base stations and network equipment. Ericsson shares have fallen almost 15% since September amid concern that Asian economic problems will slow growth in China, Ericsson’s largest market after the U.S. in 1996. Guangdong Mobile, a subsidiary of China Telecom Ltd., will be able to increase the number of subscribers to 4 million from the current 2.5 million, Ericsson said. The equipment is for its digital global system for mobile telecommunications, or GSM 900, network.