Ericsson CEO predicts 2B wireless users 'very soon'

Ericsson CEO Carl-Henric Svanberg said the global market will hit 2 billion mobile phone users "very soon." Ericsson rival Nokia made a similar prediction of 2 billion global wireless users in February. Speaking to a meeting of investors in Stockholm, Svanberg said Ericsson will maintain its position as the world's leading vendor of wireless network equipment, despite a growing challenge from vendors in China like Huawei. Ericsson last quarter reported 73 percent profit growth thanks to strong sales in Europe and Latin America. Svanberg said Ericsson's sales will be strong thanks to the industry-wide upgrade to 3G. He added that WCDMA will be the "global choice" for 3G.

For more on Svanberg's comments:
- see this story from AP