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Cevian Capital buys 5.6 percent stake in Ericsson

May 30, 2017 STOCKHOLM(Reuters) – Activist investor Cevian Capital has bought a 5.6 percent stake in struggling mobile telecom equipment maker Ericsson, a regulatory filing showed Tuesday. Ericsson shares have fallen close to 40 percent in the past two years as the firm has been hit by a drop in spending by telecoms firms, weak emerging markets and mounting competition from China’s Huawei and Finland’s Nokia. Cevian, founded by Swedes Christer Gardell and Lars Forberg, bought 167,761,137 Ericsson shares, according to the filing from the U.S. Securities and Exchange Commission….

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China’s Huawei targets Amazon, Alibaba in public cloud service push

April 11, 2017 By Sijia Jiang HONG KONG (Reuters) – Chinese telecoms equipment and smartphone maker Huawei Technologies Co Ltd [HWT.UL] on Tuesday said it aims to compete with Amazon.com Inc and Alibaba Group Holding Ltd as a global provider of public cloud services. The Shenzhen-based firm, which last month reported its slowest profit growth in five years, said it will expand in cloud computing with a dedicated division that will recruit 2,000 more people this year. “We used to focus on private cloud and did well,” Zheng Yelai, president…

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China’s Huawei reports flat profit for 2016, revenues slow

March 31, 2017 By Sijia Jiang HONG KONG (Reuters) – Chinese telecom equipment and smartphone maker Huawei Technologies Co Ltd [HWT.UL] said on Friday that net profit edged up just 0.4 percent last year, its slowest annual growth since 2011. Huawei, the world’s No. 3 smartphone maker behind Apple Inc and Samsung Electronics Co Ltd , said net profit rose to 37.1 billion yuan ($5.3 billion). Strong competition in China’s smartphone market from previously little-known domestic rivals OPPO and Vivo cost Huawei its top spot as the biggest vendor in…

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