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Ericsson

Ericsson

Ericsson started the year by announcing declining profits for its fourth quarter, as well as plans to lay off up to 5000 employees in a continuing effort to cut costs.

Global HQ: Stockholm, Sweden Website: www.ericsson.com

Global leader: Carl-Henric Svanberg, president and CEO

Local leader: Jacqueline Hey, MD Australia

Core activity: Wireline and mobile communications hardware and infrastructure

Revenue: Krona 209 billion (US$29.9 billion) (FY08 ended December 31)

Key customers: NZ Police, Vector, TelstraClear

Employees: 77,250

Ericsson started the year by announcing declining profits for its fourth quarter, as well as plans to lay off up to 5000 employees in a continuing effort to cut costs.

The year’s high point was the announcement in September of a new high-speed wireless module intended for internet-capable mobile devices, including e-book readers and GPS navigators.

Scheduled to ship in the first quarter of 2010, the module will be purchased by device manufacturers and carriers.

Other key business developments include the completion of a joint-venture deal with STMicroelectronics to combine mobile chip operations, along with a US$5 billion, seven-year agreement with Sprint, to operate the carrier’s wired and wireless networks.

The acquisition of Nortel’s code division multiple access and long-term evolution wireless networking business for $US1.13 billion, was designed to strengthen Ericsson’s position in North America.

Teng Fang Yih

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Tags strategic 100 2009

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