Chinese firms win huge 4G contracts
Western comms makers were snubbed as China Mobile picked Huawei and ZTE to upgrade its systems to 4G.
Telco equipment makers were fighting to get more than $3.2 billion of contracts with China Telecom. However it looks like the outfit decided to buy local.
According to Reuters, Chinese firms secured more than half of the biggest prize in the global telecoms industry this year and foreign firms winning about a third, industry sources said.
Ericsson and Huawei had been hoping that China Mobile's 4G contract would lift the fortunes of an industry that has been hit by a lack of spending worldwide.
China Mobile has more than 700 million mobile customers and is the world's largest by subscriber.
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