'Ericsson's technology will outplace rivals'

London, Dec 7: Exuding a lot of confidence on Ericsson's cutting edge technology, the incoming chief executive, Hans Vestberg has said that the company is all set to grow faster than its competitors.

Vestberg, who will take up his post as Ericsson's chief executive in 2010, told Financial Times that the Swedish company is well set to outplace its rivals – including China"s Huawei Technologies, in the coming years despite the falling sales in the Western world and emerging markets.

"Ericsson believes that telecoms is a growth industry. ... We definitely should be able to grow faster than the market," he said.

Ericsson is reporting falling sales of equipment because mobile phone operators in western and emerging markets are cutting back on capital spending in the downturn, the newspaper said.

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