The Ericsson brand is seen on the Ericsson’s headquarters in Stockholm, Sweden. (Picture Supply: Reuters)
The Panda Electronics Group is one in every of 20 Chinese language firms believed by U.S. authorities to be owned or managed by the Chinese language army.
Reuters Final Up to date: July 8, 2020, 11:39 AM IST
Ericsson is just not sourcing merchandise from Panda Electronics Group, one of many firms named by the US as doubtlessly managed by the Chinese language army, the Swedish telecom gear maker mentioned on Tuesday. Panda Electronics Group is one in every of 20 Chinese language firms believed by U.S. authorities to be owned or managed by the Chinese language army, based on an inventory revealed by the U.S. Division of Protection on June 24.
The corporate owns Nanjing Panda Electronics, a minority accomplice within the joint-venture Nanjing Ericsson Panda Electronics, wherein Ericsson owns 51%. Ericsson mentioned it was conscious of the checklist, including its present evaluation was that the three way partnership was not impacted, as its operations have been non-military and Ericsson is answerable for it.
Ericsson doesn’t supply any merchandise from Panda Electronics Group for use within the tools utilized in any of Ericssons merchandise, a spokeswoman instructed Reuters by e-mail. She added that Ericsson would all the time analyse the potential results of recent nationwide laws or administration orders focusing on our business. If required, we’ll take measures to conform accordingly, she mentioned.
