By , STOCKHOLM (Reuters) - Ericsson expects to take a second-quarter writedown of about 1 billion crowns ($109 million) on product inventory in China, the Swedish telecoms gear maker said on Monday.The company, which has won 5G contracts from three major operators in China, said it expected negative gross margins in China in the quarter reflecting the high initial costs for new products.Ericsson had warned in its first-quarter report that an increasing share of strategic contracts would hurt profitability in the second quarter, primarily due to negative gross margins in China.Ericsson...…By , STOCKHOLM (Reuters) - Ericsson expects to take a second-quarter writedown of about 1 billion crowns ($109 million) on product inventory in China, the Swedish telecoms gear maker said on Monday.The company, which has won 5G contracts from three major operators in China, said it expected negative gross margins in China in the quarter reflecting the high initial costs for new products.Ericsson had warned in its first-quarter report that an increasing share of strategic contracts would hurt profitability in the second quarter, primarily due to negative gross margins in China.Ericsson...WW…

By , LONDON (Reuters) - Volvo’s entire car lineup will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of automakers planning to phase out fossil-fuel engines by the end of this decade.“I am totally convinced there will be no customers who really want to stay with a petrol engine,” Volvo Chief Executive Håkan Samuelsson told reporters when asked about future demand for electric vehicles. “We are convinced that an electric car is more attractive for customers.”The Swedish-based carmaker said 50% of its global sales should be fully-electric cars...…By , LONDON (Reuters) - Volvo’s entire car lineup will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of automakers planning to phase out fossil-fuel engines by the end of this decade.“I am totally convinced there will be no customers who really want to stay with a petrol engine,” Volvo Chief Executive Håkan Samuelsson told reporters when asked about future demand for electric vehicles. “We are convinced that an electric car is more attractive for customers.”The Swedish-based carmaker said 50% of its global sales should be fully-electric cars...WW…

By , LONDON (Reuters) - Volvo’s entire car lineup will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of automakers planning to phase out fossil-fuel engines by the end of this decade.“I am totally convinced there will be no customers who really want to stay with a petrol engine,” Volvo Chief Executive Håkan Samuelsson told reporters when asked about future demand for electric vehicles. “We are convinced that an electric car is more attractive for customers.”The Swedish-based carmaker said 50% of its global sales should be fully-electric cars...…By , LONDON (Reuters) - Volvo’s entire car lineup will be fully electric by 2030, the Chinese-owned company said on Tuesday, joining a growing number of automakers planning to phase out fossil-fuel engines by the end of this decade.“I am totally convinced there will be no customers who really want to stay with a petrol engine,” Volvo Chief Executive Håkan Samuelsson told reporters when asked about future demand for electric vehicles. “We are convinced that an electric car is more attractive for customers.”The Swedish-based carmaker said 50% of its global sales should be fully-electric cars...WW…

By , STOCKHOLM (Reuters) - A Swedish court has dismissed an appeal by Huawei against its exclusion from the country’s 5G network roll out, paving the way for the 5G spectrum auction scheduled for next week to proceed as planned.The Chinese telecom group had earlier this month appealed against a decision by the Administrative Court of Appeal that allowed Swedish telecoms regulator PTS to resume 5G spectrum auctions without removing an earlier ban on Huawei.“A ruling by the Administrative Court of Appeal in a case relating to the law on electronic communication is final and therefore cannot...…By , STOCKHOLM (Reuters) - A Swedish court has dismissed an appeal by Huawei against its exclusion from the country’s 5G network roll out, paving the way for the 5G spectrum auction scheduled for next week to proceed as planned.The Chinese telecom group had earlier this month appealed against a decision by the Administrative Court of Appeal that allowed Swedish telecoms regulator PTS to resume 5G spectrum auctions without removing an earlier ban on Huawei.“A ruling by the Administrative Court of Appeal in a case relating to the law on electronic communication is final and therefore cannot...WW…

By , STOCKHOLM (Reuters) - Huawei has appealed against a court decision that allowed Swedish telecoms regulator PTS to resume 5G spectrum auctions when the Chinese telecom equipment maker is excluded from the country’s 5G rollout. A Swedish court on Dec. 16 backed an appeal by PTS against a ruling to stop the auctions, but also said Huawei could pursue a legal challenge over its exclusion.“Huawei has on January 5 lodged an appeal to the supreme administrative court,” the company said in a statement, adding that PTS’ conditions in practice exclude it from the Swedish market as the regulator...…By , STOCKHOLM (Reuters) - Huawei has appealed against a court decision that allowed Swedish telecoms regulator PTS to resume 5G spectrum auctions when the Chinese telecom equipment maker is excluded from the country’s 5G rollout. A Swedish court on Dec. 16 backed an appeal by PTS against a ruling to stop the auctions, but also said Huawei could pursue a legal challenge over its exclusion.“Huawei has on January 5 lodged an appeal to the supreme administrative court,” the company said in a statement, adding that PTS’ conditions in practice exclude it from the Swedish market as the regulator...WW…

By , STOCKHOLM (Reuters) - Huawei is willing to meet any requirement the Swedish government may set on 5G network equipment and take other measures to mitigate concerns, a senior executive said, after a ban in the country delayed spectrum auctions.Slideshow In a surprise move in October, Sweden’s telecom regulator PTS banned the use of equipment from China’s Huawei and ZTE by telecom operators taking part in the 5G auctions. Huawei won a court injunction and an appeal by PTS is pending.“We are even willing to meet extraordinary requirements, such as setting up test facilities for our...…By , STOCKHOLM (Reuters) - Huawei is willing to meet any requirement the Swedish government may set on 5G network equipment and take other measures to mitigate concerns, a senior executive said, after a ban in the country delayed spectrum auctions.Slideshow In a surprise move in October, Sweden’s telecom regulator PTS banned the use of equipment from China’s Huawei and ZTE by telecom operators taking part in the 5G auctions. Huawei won a court injunction and an appeal by PTS is pending.“We are even willing to meet extraordinary requirements, such as setting up test facilities for our...WW…

By , Telecoms regulator PTS said Tuesday's decision, ahead of a spectrum auction due next month, followed advice from the country's armed forces and security service, which described China as "one of the biggest threats against Sweden".European governments have been tightening controls on Chinese companies building 5G networks following diplomatic pressure from Washington, which alleges Huawei equipment could be used by Beijing for spying. Huawei has repeatedly denied being a national security risk.The United Kingdom in July ordered Huawei equipment to be purged completely from its 5G...…By , Telecoms regulator PTS said Tuesday's decision, ahead of a spectrum auction due next month, followed advice from the country's armed forces and security service, which described China as "one of the biggest threats against Sweden".European governments have been tightening controls on Chinese companies building 5G networks following diplomatic pressure from Washington, which alleges Huawei equipment could be used by Beijing for spying. Huawei has repeatedly denied being a national security risk.The United Kingdom in July ordered Huawei equipment to be purged completely from its 5G...WW…