Telefonaktiebolaget LM Ericsson (ERIC) has released an update.
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Telefonaktiebolaget LM Ericsson has announced a substantial non-cash impairment charge of SEK 11.4 billion, primarily due to lower than expected market growth for Vonage’s portfolio. Despite this setback, the company reaffirms its strategy to leverage Vonage at the heart of enterprise digitalization and the development of a Global Network Platform for network APIs, with 12 partnerships including recent additions such as Singtel and Telstra. Ericsson remains committed to driving telecom industry growth by enabling advanced 5G network capabilities for the world’s developers.
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