added this to my watch last week.. is now around bottom and oversold...with news this am so let's see what it does lol
o/s = 1.5b
institution ownership = 7.64%
market cap = 42.5b
company website -
http://www.ericsson.com/
Ericsson and Redback Announce Another Joint Deal in China; Upgrading Broadband Services for Guangdong Telecom
10/22/2007
BEIJING, Oct 22, 2007 (BUSINESS WIRE) --
Redback Networks Inc., an Ericsson company that makes video-centric routers for 75 percent of the world's largest triple-play networks, today announced another joint deal with parent company Ericsson to upgrade the broadband infrastructure for Guangdong Telecom, using Redback's SmartEdge router platform for data, voice and video services.
Guangdong is the flagship carrier of China Telecom and is the largest provincial carrier in China with more than 40 million customers. Under the deal, Redback and Ericsson will help Guangdong Telecom expand its residential and business services for more than 5 million broadband customers. Redback and Ericsson are managing 43 percent of fixed broadband subscribers for telephone carriers in China.
Redback has deployed more than 1,000 routing platforms in 22 of 32 provinces with China Telecom and China Netcom, the two largest wire-line carriers in China. For China Telecom, this includes provincial carriers in Guangdong, Zhejiang, Fujian, Anhui, Hubei, Jiangxi, Yunnan, Shaanxi, Ningxia, Heilongjiang and Tibet. For China Netcom, this includes similar deployments in Shandong, Liaoning, Hebei, Heilongjiang, Jilin, Henan, Shanxi, Inner Mongolia, Zhejiang, Chongqing and Yunnan.
About Redback Networks
An Ericsson company since January 2007 (NASDAQ:ERIC), Redback Networks manages 63+ million broadband access and triple-play subscribers for 75+ percent of the world's largest telephone companies. Redback's multi-service routing platform delivers next generation services such as broadband access, VoIP, IPTV, video-on-demand, and on-line gaming. Redback Networks has more than 500 carrier customers worldwide and is based in San Jose, CA. For more information, visit
www.redback.com.
About Ericsson
Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world. Read more at
http://www.ericsson.com.
SOURCE: Redback Networks Inc.
Redback Networks Doug Wills, 408-750-5038 (Media & Analysts)
dwills@redback.com or Ericsson Media Relations, +46 8 719 6992
press.relations@ericsson.com
Copyright Business Wire 2007
ERIC - Ericsson Telephone Company
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