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…

Register now for FREE unlimited access to Reuters.comSTOCKHOLM, March 10 (Reuters) - An internal investigation at Scania into its Indian operations found evidence of misconduct by employees including senior management, the Swedish bus and truck maker said on Wednesday, adding the individuals involved had all left the company.The news comes after three media outlets, including Swedish news channel SVT, Scania (SCVSA.UL) paid bribes to win bus contracts in seven Indian states between 2013 and 2016.A Scania spokesman said the company, part of Volkswagen AG's commercial vehicle arm Traton SE ,...…Register now for FREE unlimited access to Reuters.comSTOCKHOLM, March 10 (Reuters) - An internal investigation at Scania into its Indian operations found evidence of misconduct by employees including senior management, the Swedish bus and truck maker said on Wednesday, adding the individuals involved had all left the company.The news comes after three media outlets, including Swedish news channel SVT, Scania (SCVSA.UL) paid bribes to win bus contracts in seven Indian states between 2013 and 2016.A Scania spokesman said the company, part of Volkswagen AG's commercial vehicle arm Traton SE ,...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 , The Xbox Series X - which the company has described as the “world’s most powerful console” - will retail for $499.99 (379.1 pounds) and a lower-priced Xbox Series S will sell for $299.99.The strategy offers consumers greater choice but the compact Series S faces criticism for being less powerful than the Series X, with less storage capacity and lacking advanced “ray tracing” graphics for titles like Capcom’s “Devil May Cry 5.”This was the first time Microsoft launched its gaming console globally on the same day and the company said it has seen the highest preorders for Xbox consoles...…By , The Xbox Series X - which the company has described as the “world’s most powerful console” - will retail for $499.99 (379.1 pounds) and a lower-priced Xbox Series S will sell for $299.99.The strategy offers consumers greater choice but the compact Series S faces criticism for being less powerful than the Series X, with less storage capacity and lacking advanced “ray tracing” graphics for titles like Capcom’s “Devil May Cry 5.”This was the first time Microsoft launched its gaming console globally on the same day and the company said it has seen the highest preorders for Xbox consoles...WW…

By , , TOKYO/CHICAGO/STOCKHOLM (Reuters) - Think Michelangelo vs Da Vinci. Muhammad Ali and Joe Frazier. Batman v Superman. Another epic rivalry is rejoined this week when Sony and Microsoft go head-to-head with the next generation of their blockbuster video-game consoles.Sony, whose PlayStation 5 (PS5) takes on Microsoft’s Xbox Series X and Series S, is widely viewed as being in pole position to capitalise on a pandemic-driven boom in consumer spending that has buoyed the $150 billion video game industry.The Japanese company’s deep bench of games and broader fan base - it has sold over 100...…By , , TOKYO/CHICAGO/STOCKHOLM (Reuters) - Think Michelangelo vs Da Vinci. Muhammad Ali and Joe Frazier. Batman v Superman. Another epic rivalry is rejoined this week when Sony and Microsoft go head-to-head with the next generation of their blockbuster video-game consoles.Sony, whose PlayStation 5 (PS5) takes on Microsoft’s Xbox Series X and Series S, is widely viewed as being in pole position to capitalise on a pandemic-driven boom in consumer spending that has buoyed the $150 billion video game industry.The Japanese company’s deep bench of games and broader fan base - it has sold over 100...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…