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TheStreet Open House

Ericsson Sets Agenda For Transformation Of Industries Through 2014

Stocks in this article: ERIC

  • At Mobile World Congress 2014 in Barcelona, Ericsson President and CEO Hans Vestberg talks about growth opportunities for mobile operators while foreseeing an even more data-centric world, demanding superior network performance
  • Vestberg summarized new capabilities from Ericsson to support its customers in transition to the new world, covering hardware, software, and services
  • Commitments confirmed for trials of Ericsson Radio Dot System to major service providers in Europe, Asia, North America and Africa
  • Transformation across industries drives new models of partnership and innovation

STOCKHOLM, Sweden, Feb. 24, 2014 (GLOBE NEWSWIRE) -- Ericsson (NASDAQ: ERIC), in its opening-day media and analyst briefing at Mobile World Congress in Barcelona, asserts its leadership in technology and services in an increasingly data-centric world.

The company's President and CEO Hans Vestberg recapped 2013, when more than 55% of all phone shipments were smartphones and LTE subscriptions reached 200 million. Vestberg says: "The early days of the Networked Society are here. We use our smartphones to work, live, and entertain ourselves in more powerful ways every day. That demands networks that provide superior performance, and our leadership across generations of technology - from fixed to wireless to LTE-Advanced and, in the future, 5G - contributes to our ability to deliver that to our customers."

New measurements from Ericsson show that half of all LTE smartphone traffic goes through Ericsson networks and the company is ranked number one for LTE market share in the world's top 100 cities.

Additionally, the company's number one position in Services is extended with a new launch of Telecom Cloud Transformation, which provides consulting and systems integration for operators. With 43% of Ericsson's sales coming from Services, the business area is playing a key role in the company's own transformation.

While the world becomes more data-centric, networks are undergoing IT and telecom convergence. Evidence of Ericsson's continuous focus on IP and industry-leading network technology and services is the recent announcement of the strategic agreement with packet optical-network provider Ciena. Mobile and fixed systems require a superior transport network, and IP -optical convergence plays a key role in this transition.. The agreement allows Ericsson to grasp this growth opportunity by strengthening its portfolio with integration between Ciena's optical technology and Ericsson's IP and SDN technology.

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