Swedish telecoms equipment maker Ericsson said it will set up a new research and development (R&D) center and a separate global services delivery center in India.
Ericsson said in a statement the R&D center would be in the southern Indian city of Chennai, while the global delivery center would be in Gurgaon, on the outskirts of New Delhi in the north. The company did not disclose any financial details.
India, Asia's third-largest economy, is the world's fastest growing major mobile phone market, with about 2.5 million new users signing up every month. Analysts estimate 30 to 35 million mobile phones will be sold in India in 2005.
Ericsson had said in March it would spend U.S. $50 million to upgrade its telecoms equipment unit in the western state of Rajasthan state over the next 2 years.
Korea's LG Electronics already makes mobile phones in India, Nokia has a plant under construction in Chennai, while Samsung Electronics has said it is considering setting up a plant. (Reuters)
to Daily News