Sweden's Telefon AB LM Ericsson, the world's largest maker of mobile network equipment, is aiming to double the amount of revenue generated in the Middle East by 2015 as the region embraces networks based on long-term evolution, or LTE, technology, Ericsson's President for the Gulf Cooperation Council area said Tuesday.
"As Ericsson we have a five-year vision to double our revenues and of course each region has to do something similar," Ray Hassan told Zawya Dow Jones in an interview on the sidelines of a telecoms conference in Dubai."This year we have seen a return on, or stabilization, of investments in the GCC [Gulf Cooperation Council region]..and next year we are forecasting some considerable growth," he added.
Hassan said the Middle East contributed about 10% of Ericsson's total global revenues in 2009. The company's net sales last year amounted to SEK206.5 billion ($29.3 billion), according to Ericsson's website.
"We see a lot of opportunity in this region [Middle East] because it is not as mature as the western markets," said Hassan.
He also expects countries within the GCC region to start adopting LTE, a fourth-generation technology that enables faster data downloads and uploads on mobile devices compared with third-generation networks.
Many network operators like Ericsson are now pushing LTE as the next technological leap in their search for new sources of revenue growth.
"It will all be LTE now. Almost every operator in the region is now implementing or trying LTE. We expect more in 2011 and especially in 2012 to really take shape," said Hassan
"As Ericsson we have a five-year vision to double our revenues and of course each region has to do something similar," Ray Hassan told Zawya Dow Jones in an interview on the sidelines of a telecoms conference in Dubai."This year we have seen a return on, or stabilization, of investments in the GCC [Gulf Cooperation Council region]..and next year we are forecasting some considerable growth," he added.
Hassan said the Middle East contributed about 10% of Ericsson's total global revenues in 2009. The company's net sales last year amounted to SEK206.5 billion ($29.3 billion), according to Ericsson's website.
"We see a lot of opportunity in this region [Middle East] because it is not as mature as the western markets," said Hassan.He also expects countries within the GCC region to start adopting LTE, a fourth-generation technology that enables faster data downloads and uploads on mobile devices compared with third-generation networks.
Many network operators like Ericsson are now pushing LTE as the next technological leap in their search for new sources of revenue growth.
"It will all be LTE now. Almost every operator in the region is now implementing or trying LTE. We expect more in 2011 and especially in 2012 to really take shape," said Hassan
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