Benzinga | May 24, 2021 08:31AM EDT

Ericsson Concerned Over Chinese 5G Market Share Hit From Sweden's Exclusion Of China: Reuters

* Telefonaktiebolaget L M Ericsson (NASDAQ: ERIC) estimates a 5G market share hit in China due to Sweden's exclusion of Chinese vendors from Sweden's 5G network launches, based on Ericsson's bond issue prospectus, Reuters reports.

* Interestingly, Ericsson has been invited to various ongoing tender processes in China.

* Last October, the Swedish government had banned Huawei Technologies Co., Ltd from 5G equipment supply over security concerns. Huawei challenged the ban. Huawei is expecting a decision in the upcoming weeks which could dampen Ericsson's prospects in China.

* Price action: ERIC shares are trading lower by 1.03% at $13.39 in the premarket session on the last check Monday.