Ericsson

Telefonaktiebolaget LM Ericsson (Nasdaq: ERIC) is a Swedish multinational networking and telecommunications company headquartered in Stockholm. Founded in 1876 by Lars Magnus Ericsson, the company is a worldwide leader in delivering Information and Communications Technology (ICT) solutions.

Ericsson's business is organized into three main segments:

• Networks: Provides products and solutions for mobile and fixed communication, including radio networks, core networks, and cloud infrastructure.

• Global Services: Offers network rollout services, managed services, customer support, consulting and systems integration.

• Support Solutions: Provides software-based solutions for Business Support Systems (BSS), Operations Support Systems (OSS), TV and media solutions, and mobile commerce.

Ericsson's core products include antennas, transmitters, switching systems and other equipment used to build wireless telecommunications networks. The company is a leading provider of 5G network equipment globally. In 2023, Ericsson reported net sales of SEK 271.5 billion (approximately USD 27.1 billion). North America accounted for about 33% of Ericsson's sales in 2023, making it the company's largest market.

Ericsson has recently faced challenges due to a slowdown in 5G spending, particularly in North America. In March 2024, the company announced it would cut 1,200 jobs in Sweden, representing about 8.6% of its Swedish workforce, as part of ongoing cost reduction efforts. Ericsson is also focusing on expanding its enterprise business and cloud software capabilities. In 2022, the company completed its USD 6.2 billion acquisition of cloud communications provider Vonage to strengthen its position in enterprise and developer solutions.