Ericsson has announced it will invest $1 billion in developments in China over the next three years to meet the growing demand for 3G and 4G telecom services there.

At Ericsson’s Strategy & Technology Summit in Shanghai, Ericsson president and chief executive Carl-Henric Svanberg said, “Users demand more mobile content, operators are looking for new revenue sources and media companies need new distribution channels. This is in line with our vision of an all-communicating world and we are confident that the mobile content industry has wonderful potential.”. Svanberg also said that Ericsson had signed a research agreement with Shanghai Research Centre for Wireless Communications (SHRCWC) to collaborate on technologies such as Super 3G and 4G.