Ericsson plans HUF 3 bln expansion at R&D base in Budapest
Ericsson House in Budapest
The Hungarian unit of Swedish networking and telecommunications company Ericsson plans a HUF 3 billion expansion of its R&D base in Budapest, Minister of Foreign Affairs and Trade Péter Szijjártó said on Tuesday.
The government is supporting the investment, which will create 200 jobs, with a HUF 600 million grant, Szijjártó said.
Ericsson will add the development of cloud-based multimedia systems to the base's activities, he added.
The R&D base employs more than 2,000 people.
Ericsson Magyarország CEO Gábor Éry said developments made at the base in Budapest in areas of 5G core networks, cloud computing, and microwave technology would not have been possible without cooperation with higher education. Ericsson Magyarország has supported that cooperation with more than HUF 13 bln, so far, he added.
Ericsson has signed more than 130 commercial 5G contracts, he said, adding that the company's biggest local business partner is Magyar Telekom.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.