Ericsson set to boost subscribers to 50 million in Indian market

Swedish wireless and telephone equipment maker LM Ericsson AB has said it sees the growing Indian market reaching 50 million subscribers by year end, and it intends to outsource more of its research and development work to the country according to Indian press reports.

"India is one of the fastest telecom markets in the world and is of immense importance to us. We also continue to look at opportunities to outsource research and development work from India," said Bert Nordberg, president of Ericsson's business unit systems.

He said that India will likely be the world's fastest growing market --in percentage terms -- this year and is starting to catch up with China in absolute growth terms.

Nordberg said Ericsson has a market share of 40% in the Indian GSM network systems market.

Ericsson's other products include corporate networking gear, cable, defence electronics, and software for mobile messaging and commerce