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Ericsson (NASDAQ: ERIC) is a leading global provider of technology and services to telecommunications companies and enterprises. The company focuses on mobile networks, cloud software, enterprise wireless solutions, global communications platforms, and new technologies. Ericsson is committed to driving innovation and digital transformation to help customers increase efficiency and find new revenue streams. With a strong portfolio of over 60,000 patents, Ericsson is at the forefront of 5G technology, providing high-performance connectivity to billions of people worldwide.
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Ericsson (NASDAQ: ERIC) announces the appointment of Niklas Heuveldop as the new Head of Business Area Global Communications Platform and CEO of Vonage, effective February 1, 2024. Heuveldop has been leading Market Area North America since 2017 and has significantly strengthened Ericsson's position in North America, expanding market share with all leading customers and securing a USD 14 billion deal with AT&T. Yossi Cohen will replace Heuveldop as Head of Market Area North America, bringing 22 years of global expertise in technology, business, operations, and innovation.
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Ericsson's fourth-quarter results show a challenging market environment with a decline in sales. The company reported a -17% YoY decline in organic sales, with Networks sales down by -23%. Despite this, EBITA reached SEK 8.2 b. with an EBITA margin of 11.4%. Full-year sales declined organically by -10%, impacted by a -15% decrease in Networks, partly offset by an 11% growth in Enterprise. The reported EBITA for the full year was SEK 21.4 b. with a margin of 8.1%. The company also reported a net loss of SEK -26.1 b. for the year, impacted by goodwill impairment and restructuring charges. The press release highlights the company's focus on operational efficiency, tight cost management, and a commitment to driving long-term value for shareholders.
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Ericsson (ERIC) will release its financial report for the fourth quarter of 2024 at approximately 7:00 AM CET on January 23, 2024. President and CEO Börje Ekholm and CFO Carl Mellander will host a live video webcast at 9:00 AM CET to discuss the report and take questions. The report will be available on Ericsson's website, and the webcast will be accessible on-demand after the event.
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AT&T (T) plans to lead the US in open radio access network deployment, investing $14 billion over 5 years. The company aims for 70% wireless network traffic to flow across open-capable platforms by late 2026, with fully integrated open RAN sites operating in coordination with Ericsson and Fujitsu starting in 2024. The move towards open RAN will enable rapid scaling and management of mixed supplier hardware at each cell site. The company's joint commitment with Ericsson comes at a pivotal moment in the 5G innovation cycle, positioning AT&T to quickly capitalize on the next generation of wireless technology and spectrum. This move is expected to yield more innovation, greater efficiencies, and lower network costs, enabling the company to continue investing in its fast-growing broadband network.
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Ericsson (NASDAQ: ERIC) announces changes in its Nomination Committee with Bengt Kjell, AB Industrivärden, replacing Karl Åberg. The committee now includes Johan Forssell, Investor AB; Bengt Kjell, AB Industrivärden; Anders Oscarsson, AMF Tjänstepension & AMF Fonder; Christer Gardell, Cevian Capital Partners Limited; and Jan Carlson, the Chair of the Board of Directors. Johan Forssell is the Chair of the Nomination Committee.
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Ericsson (ERIC) predicts that global 5G subscriptions will exceed 5.3 billion by the end of 2029. The average data consumption per smartphone is projected to rise from 21GB/month to 56GB/month between 2023 and 2029. Additionally, 85 percent of the global population is expected to have 5G coverage access by the end of 2029.
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Ericsson to hold briefing session on sustainability and responsible business
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Ericsson and Huawei renew multi-year global patent cross-licensing agreement for 3G, 4G, and 5G technologies. Ericsson estimates full-year 2023 IPR licensing revenues to be approximately SEK 11 billion.
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Ericsson reports second quarter 2023 results. Group organic sales declined by -9% YoY, with Networks sales declining by -13% and Enterprise sales growing by 20%. Gross income decreased to SEK 24.7 b. EBITA amounted to SEK 3.7 b. with an EBITA margin of 5.7%. Net loss was SEK -0.6 b. Free cash flow before M&A was SEK -5.0 b. Net cash on June 30, 2023, was SEK 1.9 b.
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FAQ
What does Ericsson do?
Ericsson is a leading provider of technology and services for telecommunications companies and enterprises, specializing in mobile networks, cloud software, and enterprise solutions.
What is Ericsson's focus areas?
Ericsson focuses on mobile networks, cloud software, enterprise wireless solutions, global communications platforms, and new technologies to drive innovation and digital transformation.
What makes Ericsson stand out?
With over 60,000 patents and a commitment to 5G technology, Ericsson is a pioneer in providing high-performance connectivity and enabling new revenue streams for customers worldwide.
How does Ericsson drive innovation?
Ericsson invests over USD 4 billion annually in R&D to develop cutting-edge solutions that help customers go digital, increase efficiency, and stay ahead in the rapidly evolving telecommunications industry.
What is Ericsson's long-term goal?
Ericsson aims to become a more profitable company by leveraging its leadership in mobile infrastructure and expanding its high-growth Enterprise platform business.
How does Ericsson contribute to the industry?
As a major contributor to global mobile standards and technology development, Ericsson's innovations have brought the benefits of mobile and broadband connectivity to billions of people worldwide.
What is Ericsson's approach to intellectual property?
Ericsson believes in fair and balanced licensing agreements that respect intellectual property rights and drive industry-wide innovation and development for the benefit of consumers and enterprises.
How does Ericsson ensure operational efficiency?
Ericsson focuses on cost discipline, operational efficiency, and strong decision-making to navigate challenging market conditions and drive long-term value for shareholders.
What areas does Ericsson continue to improve?
Ericsson remains committed to enhancing its leadership in mobile networks, growing its enterprise business, and advancing its cultural transformation to align with evolving industry trends and customer needs.
What sets Ericsson apart from competitors?
Ericsson's focus on technology leadership, operational efficiency, and ethical standards differentiates the company and positions it as a trusted partner for customers seeking innovative and reliable solutions.
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