Ericsson American Depositary Shares - ERIC STOCK NEWS

Ericsson announced that Rogers Communications has successfully launched Canada's first national 5G standalone (SA) network, thanks to their cloud-native technology. This transformation allows Rogers to enhance flexibility, scalability, and service delivery to both consumer and enterprise customers.

The roll-out faced challenges but resulted in a reliable 5G network infrastructure. Key features include the deployment of Ericsson Evolved Packet Core, Service-Aware Policy Controller, and advanced 5G Radio Access Network capabilities. This initiative is set to boost digitalization across Canada and empower various enterprises to innovate.

At the Mobile World Congress in Barcelona, Ericsson showcased joint capabilities with Aeris, revealing strong interest from major communication service providers (CSPs) like SoftBank, Telenor Connexion, and Telstra. The transfer of Ericsson’s IoT Accelerator and Connected Vehicle Cloud businesses to Aeris aims to create a robust IoT platform, enhancing revenue streams for CSPs. The collaboration emphasizes new security features and lifecycle support for IoT programs across diverse industries. This partnership is set to expand significantly with increasing global demand for IoT solutions.

On February 28, 2023, Ericsson (NASDAQ: ERIC) announced the departure of Chief Compliance Officer Laurie Waddy after four years. Waddy, who joined the company in April 2019, was instrumental in developing Ericsson's ethics and compliance program. Jan Sprafke has been appointed as the interim CCO while a search for a permanent replacement is conducted. CEO Börje Ekholm expressed gratitude for Waddy's contributions, emphasizing the ongoing commitment to a culture of ethics and integrity. Waddy is assisting Sprafke to ensure a smooth transition.

Ericsson has unveiled strategies to reduce energy consumption in mobile networks while maintaining performance. Acknowledging the industry's $30 billion energy expenditure, the company emphasizes a shift towards sustainable practices, countering the misconception that energy savings impair user experience. Their three-pronged approach includes sustainable network evolution, modernizing infrastructure for energy efficiency, and leveraging AI for smarter operations. Ericsson is keen on redefining energy management, focusing on both active and passive infrastructures. The use of data-driven decisions and machine learning is central to their strategy, promising improved efficiency without compromising customer satisfaction.

Telefonaktiebolaget LM Ericsson will hold its Annual General Meeting (AGM) on March 29, 2023, at 3 PM CEST, where shareholders will vote on key proposals. The Nomination Committee recommends Jonas Synnergren and Christy Wyatt for the Board, alongside a new Chair, Jan Carlson. A dividend of SEK 2.70 per share is proposed, payable in two installments. Also planned is a Long-Term Variable Compensation Program for the Executive Team, focusing on EBITA and total shareholder return targets over three years. The AGM allows for postal voting and requires registration by March 23, 2023. Shareholders can also vote by proxy.

Ericsson has unveiled a new range of over 10 radios, including the lightweight triple-band Radio 4485, designed to enhance 5G capacity and reduce carbon emissions. The portfolio features the industry's first 600MHz Massive MIMO radio and a quad-carrier microwave transport radio with quadrupled capacity. New software solutions, such as Interference Sensing, can increase network capacity by 40%. These innovations aim to support service providers' Net Zero goals while improving energy efficiency. The new offerings will be showcased at Mobile World Congress 2023 and will be commercially available throughout 2023 and early 2024.

Ericsson, a leading networking and telecom company, released a report titled "10 Hot Consumer Trends: Life in a Climate-Impacted Future" on February 15, 2023. Key findings indicate that 83% of urban early adopters of AR and VR anticipate exceeding the 1.5°C global warming threshold by 2030. Additionally, 59% believe technology will be essential in addressing climate-induced challenges. The report highlights significant shifts in consumer behavior and work patterns due to climate change. Ericsson employs 3,300 individuals across Texas and continues to influence the regional market dynamics.

Ericsson emphasizes the importance of impact investing as a vital strategy to address global challenges such as climate change and inequality. With the impact investing market surpassing $1.1 trillion, the firm highlights the role of various investors, including venture capitalists and large corporations, in generating returns while fostering positive societal change. A significant focus is on closing the digital divide, which can enhance economic benefits, exemplified by potential GDP increases in countries like Niger. As the deadline for the UN's Sustainable Development Goals nears, the capital allocation towards these goals remains insufficient, with a funding gap of $4.2 trillion.