Ericsson Wins Multi-Billion Dollar 5G Equipment Contract From Bharti Airtel, Building On Last Month's $3.6B Vodaphone Idea Deal, Aiding Revenue Recovery After H1 Contract Decline In India; Southeast Asia, Oceania, India Sales Dropped 44% In Q2

Telefonaktiebolaget LM Ericsson: Swedish telecom gear maker Ericsson has received a new multi-billion dollar contract for selling 5G equipment from India's Bharti Airtel, two sources familiar with the matter said. This comes after Ericsson got part of a $3.6 billion contract last month for selling 5G equipment to India's Vodafone Idea. It shared the contract with Nokia and Samsung. The new contracts are expected to boost Ericsson's revenue next year after seeing a big fall in contracts from India in the first half of the year. Sales in Southeast Asia, Oceania, and India had decreased by 44% in the second quarter. Ericsson will announce its third-quarter results on Tuesday. Much of the deployment is likely to happen next year, according to one source familiar with the matter.