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Thu 2 Dec 2010 03:55 PM

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Ericsson aims to double Mideast revenues by 2015

The Middle East currently only accounts for 10% of the Swedish telecom giant’s global revenues.

Ericsson aims to double Mideast revenues by 2015
DOUBLE REVENUE: Swedish mobile network equipment maker, Ericsson, aims to double its revenue in the Middle East over the next 5 years

Ericsson,
the world's largest maker of mobile network equipment, is aiming to double its
revenue in the Middle East over the next five years, the Swedish telecoms giant
said in Dubai this week.

"As
Ericsson we have a five-year vision to double our revenues and of course each
region has to do something similar," Ray Hassan, Ericsson's president for
the GCC region, told the Zawya Dow Jones news agency on the sidelines of a
conference in Dubai.

"We
see a lot of opportunity in this region [Middle East] because it is not as
mature as the western markets," he said, adding that the region currently
accounts for only a tenth of the company’s global revenues.

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