STOCKHOLM, November 30 (Reuters) – Swedish Ericsson (ERICb.ST) on Tuesday raised its global forecast for 5G mobile subscriptions to 660 million at the end of this year, citing stronger-than-expected demand in China and North America.
The telecom equipment maker, which had previously predicted 580 million subscriptions, said it expected 4.4 billion 5G subscriptions by the end of 2027, equivalent to almost half of all mobile subscriptions at the time.
Ericsson said in its half-yearly mobility report that strong demand in China and North America was partly driven by falling prices for 5G devices.
While 5G will be the dominant mobile access technology through subscriptions in 2027, Ericsson predicts that 4G subscriptions will reach a peak during the fourth quarter of 2021, and then decrease when subscribers migrate to 5G.
Ericsson, which competes with Chinese Huawei [RIC:RIC:HWT.UL] and Finnish Nokia (NOKIA.HE), added that 75% of the world’s population will have access to 5G coverage by 2027.
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Reporting by Helena Söderpalm; editing by Niklas Pollard
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