Ericsson getting Russia mobile

Ericsson of Sweden has been one of the biggest contributors to the growth of mobile telecoms in Russia. The company maybe best known for its handsets, but makes most of its money from mobile phone infrastructure.

Ericsson is spending some 3 billion euros on R&D, and Russia may get a part of this pie as the company intends to invest in the country's innovation hub Skolkovo. Ericsson has managed to keep up a sustainable performance despite a fall in consumption in Europe and the Middle East.

President and CEO Hans Vestberg says Russia is one of the most attractive markets with broad opportunities for the company. He sees mobile technology at the forefront of modernization in Russia, particularly in education and healthcare.