STOCKHOLM, May 10, 2024 /PRNewswire/ -- Ericsson (NASDAQ: ERIC) today announces that Fadi Pharaon, Senior Vice President and Head of Market Area Middle East & Africa, has decided to leave Ericsson to pursue other opportunities. Mr. Pharaon has held his current position since 2019 but has been with Ericsson for 26 years during which time he has held several management positions within the Company. Mr. Pharaon will leave Ericsson at the end of August and a successor will be announced in due course. Börje Ekho ...

STOCKHOLM, May 2, 2024 /PRNewswire/ -- In accordance with the resolution by the Annual General Meeting 2024, Ericsson (NASDAQ: ERIC) expands its treasury stock in order to provide shares for the Long-Term Variable Compensation Program LTV I 2023 for Ericsson's executive team. The Board of Directors of Ericsson has today resolved, by virtue of authorization given by the Annual General Meeting on April 3, 2024 (the "AGM 2024"), to direct an acquisition offer to all holders of C shares to acquire these shares. ...

BOISE, Idaho, April 24, 2024 (GLOBE NEWSWIRE) -- Cradlepoint, part of Ericsson, the global leader in cloud-delivered LTE and 5G wireless network and security solutions, today launched its single vendor Secure Access Service Edge (SASE) solution, NetCloud SASE. Designed to serve agile enterprises, NetCloud SASE integrates cellular-centric SD-WAN and security into a fully unified solution. The cloud-delivered platform enables lean IT teams to provision true zero-trust networks in as little as 6 minutes. IDC f ...

Ericsson’s (ERIC) subsidiary Vonage recently collaborated with Singtel to aid businesses across the globe to accelerate and drive digital transformation.Vonage specializes in providing cloud communications solutions and is headquartered in New Jersey. The integration of Singapore-based Singtel’s orchestration platform, Paragon, and Vonage's API platform will provide a thriving ecosystem of communications, network and edge APIs to enterprises, telcos and developers globally. This will aid them in delivering ...

Ericsson (NASDAQ:ERIC) layoffs are a hot topic on Thursday as reports claim that the telecommunications giant is preparing to cut jobs.According to a company spokesperson, Ericsson is going to reduce its headcount by more than 200 employees. These job cuts are coming for workers based in its Chinese research and development division.Investors will note that these layoffs were announced shortly after the release of Ericsson’s Q1 earnings report. The company warned of headwinds in this latest report.Here’s wh ...

PLANO, Texas, April 17, 2024 /PRNewswire/ -- Ericsson (NASDAQ: ERIC) and Nex-Tech Wireless today announce a transformative 5-year network modernization initiative. This groundbreaking initiative underscores Nex-Tech Wireless's commitment to providing unparalleled connectivity solutions to communities across Kansas. Nex-Tech Wireless and Ericsson Keep Kansans Connected (Image for illustrative purposes only) "We are excited to continue our strategic partnership with Ericsson as we remain focused on our mi ...

Key TakeawaysEricsson on Tuesday reported first-quarter operating profit and earnings per share above forecasts as it took steps to offset falling sales.The Swedish telecom company posted a jump in gross margin from the year before.Ericsson's CEO predicted sales will stabilize in the second half of 2024. American depositary receipts (ADRs) of Ericsson (ERIC) rose Tuesday after the Swedish telecom company posted a much better-than-expected operating profit and predicted sales would be better in the second ha ...

Ericsson (ERIC) reported mixed first-quarter 2024 results, wherein the bottom line surpassed the Zacks Consensus Estimate, but the top line missed the same. The company reported a revenue decline year over year, owing to sluggish demand in the Networks Segment. Sharp sales drop in the South East Asia and Oceania region and normalization of 5G investments in India affected the top line. Solid expansion in gross margin backed by strategic cost-saving measures, commercial discipline and a competitive portfolio ...

Company Participants Andreas Joelsson - Carnegie Francois-Xavier Bouvignies - UBS Joachim Gunell - DNB Markets Sandeep Deshpande - JPMorgan Daniel Djurberg - Handelsbanken Capital Markets Joseph Zhou - Barclays Sebastien Sztabowicz - Kepler Cheuvreux Erik Lindholm-Rojestal - SEB Felix Henriksson - Nordea Markets Sami Sarkamies - Danske Bank Richard Kramer - Arete Research As usual, we'll have a short presentation followed by Q&A. And in order to ask a question, you'll need to join the conference by phone. D ...

STOCKHOLM, April 16, 2024 /PRNewswire/ -- First quarter highlights – Driving gross margin improvements and cost efficiencies Sales declined organically[1] by -14% YoY, due to a -19% decline in Networks. Reported sales decreased to SEK 53.3 (62.6) b. Gross income excluding restructuring charges decreased to SEK 22.8 (24.9) b. as lower sales were partly offset by an improvement in gross margin. Reported gross income was SEK 22.7 (24.2) b. Gross margin excluding restructuring charges improved to 42.7% (39.8%) ...