Ericsson

Ericsson sees signs of improvement after fourth straight quarterly loss

Stockholm - Muslimchronicle

Mobile network gear maker Ericsson said it had detected signs of improvement after posting a steeper than expected quarterly loss on Friday, helping send its languishing shares up as much as 5 percent. Once the world’s top maker of mobile network equipment, Sweden’s Ericsson faces a declining market for older network 2G, 3G and 4G gear while needing to stepRead more

Ericsson steps up restructuring on new quarterly loss

Stockholm - AFP

Weaker than expected second-quarter sales and profits in a poor growth climate prompted Swedish telecoms giant Ericsson to announce fresh cost-cutting measures Tuesday, prompting a plunge in its share price. Ericsson posted a fourth straight quarterly loss in unveiling April to June figures of 1.0 billion kronor (105 million euros/$121 million) on sales dropping eight percent to 49.9 billion kronor,Read more

Ooredoo Signs Network Transformation Agreement with Ericsson

Doha - QNA

Ooredoo Group signed a new network transformation agreement with Ericsson at the Mobile World Congress in Barcelona that will enable it to extend its competitive advantage by leveraging its global group-scale in its relationship with the technology leader. Under the agreement, Ooredoo will transform its network and will be backed by Ericsson’s services organization and solutions portfolio enabling the companyRead more

RTA discusses with Ericsson advancing technological services

DUBAI - WAM

The Roads and Transport Authority, RTA, has received a delegation from the Swedish firm Ericsson International, to discuss prospects of cooperation in smart services and technological systems of mass transit means among other technological fields. The move is part of RTA’s strategy aimed at engaging the private sector in realising its objectives; which conforms to the Dubai Government drive. AbdullahRead more

Ex-Ericsson executives tell of massive

Stockholm - AFP

Former executives with Swedish telecoms equipment giant Ericsson say the firm shelled out tens of millions of dollars in bribes between 1998 and 2001, the Swedish media reported Wednesday. A former executive named Liss-Olof Nenzell has handed the US Securities and Exchange Commission (SEC) documents relating to the alleged kickbacks, Dagens Nyheter daily and Swedish public radio SR said. "EnormousRead more

Ericsson bets on continuity with new CEO from Investor

Stockholm - AFP

Struggling Swedish telecoms equipment maker Ericsson on Wednesday appointed Borje Ekholm as new CEO, betting on continuity with an executive coming from its board of directors and its main shareholder. Ericsson, which announced it would cut up to 4,000 jobs in Sweden earlier this month, was seeking a new head following the ousting of Hans Vesterberg in July after sevenRead more

Ericsson Revenue's Fall 14% Amid Weak Broadband Demand

Stockholm - QNA

Swedish mobile networks company Ericsson said Wednesday that it forecasts significantly lower earnings for a considerable time into the future. The company's revenue fell 14% in the third quarter of 2016, compared to the same period of last year. The decline was mainly due to lower demand on broadband networks, AP reported. CEO Jan Frykhammar said that weaker demandRead more

Ericsson shares plunge over third-quarter warning

Stockholm - AFP

Shares in Ericsson lost more than a sixth of their value Wednesday after the troubled Swedish telecoms giant pointed to "significantly lower" third-quarter results. Ericsson shares, which have lost more than half their value in the last 18 months, plunged more than 17.5 percent shortly after trading opened. The corporation is in the midst of a major overhaul, and earlierRead more

Ericsson to end manufacturing in Sweden, cut 3000 jobs

Stockholm - AFP

Telecoms equipment maker Ericsson plans to end manufacturing in Sweden with the loss of around 3,000 jobs, Swedish newspaper Svenska Dagbladet reported late Wednesday. The daily said it had obtained "confidential documents" outlining a three billion kronor (313-million-euro, $350-million) cost-cutting programme. According to Svenska Dagbladet, 60 percent of the savings were to be made in Sweden, and the remainder abroad.Read more

Ericsson probed by US over alleged corruption in China

Stockholm - AFP

US authorities are investigating Swedish telecoms giant Ericsson over claims of corruption in its Chinese operations, the Svenska Dagbladet newspaper reported. Ericsson confirmed in a statement released on June 17 that US officials had "a number of questions" relating to its activities without giving further details. "We will not provide any detailed comments on the request as such, but canRead more