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The Panda Electronics Group is one in every of 20 Chinese corporations believed by U.S. authorities to be owned or managed by the Chinese navy.
- Reuters
- Last Updated: July 8, 2020, 11:39 AM IST
Ericsson is not sourcing merchandise from Panda Electronics Group, one of many corporations named by the United States as doubtlessly managed by the Chinese navy, the Swedish telecom gear maker stated on Tuesday. Panda Electronics Group is one in every of 20 Chinese corporations believed by U.S. authorities to be owned or managed by the Chinese navy, in accordance to an inventory printed by the U.S. Department of Defense on June 24.
The firm owns Nanjing Panda Electronics, a minority accomplice in the joint-venture Nanjing Ericsson Panda Electronics, in which Ericsson owns 51%. Ericsson stated it was conscious of the record, including its present evaluation was that the three way partnership was not impacted, as its operations had been non-military and Ericsson is in management of it.
“Ericsson does not source any products from Panda Electronics Group to be used in the equipment utilized in any of Ericsson’s products,” a spokeswoman advised Reuters by e-mail. She added that Ericsson would “always analyse the potential effects of new national legislation or administration orders targeting our industry.” “If required, we will take measures to comply accordingly,” she stated.
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