Ericsson has announced that it will phase out its business operations in Russia in the coming months as the Swedish telecommunications equipment maker completes its obligations to customers. The company, which suspended its Russian operations indefinitely in April, said it has about 400 employees in Russia and will provide financial support to affected workers. A […]
Tag: Ericsson
Ericsson quarterly earnings lower than estimated
Ericsson’s quarterly net profit was lower than expected due to a delayed contract, expiring licensing agreements and the previously announced forecast of 900 million kronor ($ 94.6 million), after the suspension of Russian activities. However, the company gained market share in the quarter thanks to strong sales for 5G equipment in North America, Europe and […]
Ericsson: Suspends operations in Russia indefinitely
Swedish telecommunications company Ericsson has announced that it is suspending operations in Russia indefinitely and will make forecasts of 900 million kroner ($ 95.2 million) in the first quarter of 2022. In late February, Ericsson suspended all deliveries to customers in Russia to give it time to analyze the possible impact of sanctions against the […]
Ericsson and its executives are being sued in the US for violating US restrictions on working in Iraq
Swedish telecommunications company Ericsson, its chief executive officer and chief financial officer, have been named defendants in a US class-action lawsuit alleging misleading investors about the company’s operations in Iraq. This was announced on Friday by the New York court. The company has been at the center of a scandal over potential payments to the […]
Ericsson: We may have paid ISIS at some point – 8.5% share plunge
Ericsson’s stock plunged 8.5% after CEO Borje Ekholm said the company may have made payments to the ISIS terrorist group to gain access to specific transportation routes in Iraq. In an interview with the Swedish Dagens Industri, the CEO stressed that Ericsson has identified “unusual expenses dating back to 2018”, but the company has not […]
Ericsson sues Apple again over 5G patent licensing
Swedish company Ericsson has filed another series of patent infringement lawsuits against Apple in the latest dispute between the two companies over fees for the use of 5G patents in the iPhone smartphone. The two companies have already sued each other in the United States, as negotiations to renew a seven-year license agreement they entered […]
Ericsson is considering the possibility of release of equipment for 5G networks in Russia
_large.jpg "Ericsson is considering the possibility of release of equipment for 5G networks in Russia")
The source said that Ericsson is exploring the possibility of localizing the production of 5G base stations in Russia. The Swedish telecommunications equipment manufacturer is said to be considering two options: working with the GS Group at a production site in Kaliningrad and launching its own plant. Ericsson did not comment on this information to […]
Ericsson: Acquired US Vonage for $ 6.2 billion
Vonage was acquired by telecommunications equipment company Ericsson for $ 6.2 billion. The deal is the largest the Swedish company has made in years and comes after the acquisition of the US wireless network company Cradlepoint for $ 1.1 billion in 2020. = “The merger agreement was approved unanimously by Vonage’s board of directors,” Ericsson […]
Ericsson has reported for the second quarter: it was not possible to compensate for the fall in sales of 5G equipment in China
Ericsson has published a report for the second quarter of 2021. The report said that sales in annual terms decreased by 1% – from 6.41 to 6.33 billion euros. Reuters notes that the decline in sales was recorded for the first time in the last three years. In addition, the indicator was below analysts’ expectations. […]
Vodafone will use Ericsson equipment in autonomous 5G networks in Germany and UK
One of the largest mobile operators Vodafone has chosen Ericsson’s 5G Core dual-mode cloud technology for its 5G core networks in Germany and the UK. Ericsson said it is “a significant step towards realizing the full potential of 5G services and future innovation for Vodafone consumers and corporate customers in both countries.” The rollout of […]