Ericsson to invest $1.5 billion in new wireless standard

07/12/2009 | Bloomberg

Ericsson said it will invest $1.5 billion for research and development in South Korea to further develop a next-generation wireless standard called Long-Term Evolution. LTE is a direct competitor of WiMAX technology, and it has already won the backing of many of the world's largest wireless carriers, including AT&T and Verizon.

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