November 25, 2019 / 8:20 PM / 6 months ago

Ericsson to invest over $230 mln in Brazil 5G assembly line

SAO PAULO, Nov 25 (Reuters) - Swedish telecoms equipment maker Ericsson plans to invest 1 billion reais ($238.30 million) in Brazil to add a new assembly line dedicated to 5th generation technology (5G), supplying its Latin American operations, an executive told Reuters on Monday.

The move is likely to stir competition with Finland’s Nokia and China’s Huawei Technologies Co, which also have factories in Sao Paulo state and are racing to lead 5G deployment in Brazil.

“We already export 40% of all equipment assembled in Brazil to Latin American countries, and it will be no different with 5G,” said Eduardo Ricotta, president of Ericsson Latam South, in a phone interview after meeting with President Jair Bolsonaro.

$1 = 4.1964 reais Reporting by Gabriela Mello; Editing by Sandra Maler

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