Daily news from Sweden written in English by native English-speaking journalists. "With current visibility, we maintain the group targets for 2020 and 2022."Total revenue rose 1% to 55.6 billion crowns.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.Got a confidential news tip? We want to hear from you.The company's second-quarter adjusted quarterly operating earnings rose to 4.5 billion Swedish crowns ($495.85 million) from 3.9 billion a year ago, beating the mean forecast of 3.36 billion crowns, according to a Refinitiv poll of analysts.Ericsson and Finland's Nokia were also expected to be the beneficiaries of Britain's decision this week to ban Chinese telecoms giant Huawei from next-generation 5G networks."Some customers are accelerating their investments while others are temporarily cautious," Chief Executive Officer Börje Ekholm said in a statement. In this section; Network Products; Ericsson office in Kista, Sweden; Executive Team - Photos; Images of Ericsson's headquarters in Kista, Sweden. Sweden's Ericsson reported quarterly core earnings ahead of market estimates on Friday, buoyed by higher margins on the sale of telecom equipment, and said it … Sales in Ericsson’s mainstay network business grew 4% in the second quarter, mostly due to contract wins in China. Ericsson had said it has won 99 commercial 5G contracts, while Nokia has said it has 79. Ericsson President and CEO, Börje Ekholm: Once 5G infrastructure is established, the killer app will emerge Ericsson President and CEO, Börje Ekholm, spoke virtually at the recent 2020 GTI Summit about 5G network build out, quality and the opportunity with private networks. High-margin software sales increased though.Total revenue rose 1% to 55.6 billion crowns.The company does not have targets for 2021.Despite the economic uncertainty over the COVID-19 pandemic, many telecom operators around the world have been moving ahead with plans to upgrade to 5G networks. Ericsson is shaping the future of mobile broadband Internet communications through its continuous technology leadership, helping to create the most powerful communication companies in the world. Sweden's Ericsson reported quarterly core earnings ahead of market estimates on Friday, buoyed by higher margins on the sale of telecom equipment, and said it … Network Products.

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An entertaining blend of Sweden's latest news headlines, politics, sport, business, and features. Ericsson, which won contracts from China's three largest telecom operators — China Mobile, China Telecom and China Unicom — had to take hit on gross margins as it wrote down about 1 billion crowns ($109 million) in product inventory.Data is a real-time snapshot *Data is delayed at least 15 minutes. Ericsson is one of the world's leading information and communication technology companies.
… Ericsson is the well-known telecommunication equipment giant from Sweden, which was once a key player within the global mobile handset industry.

Latest news Ericsson comments In this section. It won a share of 5G business - alongside Chinese giants Huawei and ZTE - from the country’s three largest telecom operators: China Mobile, China Telecom and China Unicom.“So far during these five months it (the pandemic) has been going on, we have coped well,” he said.The company’s shares were up 10% at 0818 GMTEricsson has a 2020 group sales target of 230-240 billion Swedish crowns ($25.3-26.4 billion), and an adjusted operating margin goal of more than 10%; for 2022 it has an adjusted operating margin goal of 12-14%.Reporting by Helena Soderpalm and Supantha Mukherjee; Editing by Rashmi Aich and Pravin CharThe group’s gross margin rose to 38.2% in the second quarter from 36.7% in the year-ago period.While the company is keeping its forecast for 2020 and 2022, its digital services business is likely to miss its target this year, Ekholm said.The company’s adjusted quarterly operating earnings rose 18% to 4.5 billion Swedish crowns, beating a mean forecast of 3.36 billion crowns in Refinitiv poll of analysts.“On paper (the UK ban) should be a tremendous opportunity for Ericsson, particularly if there is contagion to other markets,” Ben Wood, chief analyst at CCS Insight, told Reuters.There has been an increasing network build-up in China, Europe and North America, but some operators in Latin America and Africa have been more cautious, Ericsson’s Chief Financial Officer Carl Mellander told Reuters.The digital services unit, which includes cloud-based services, saw a hit to sales due to the pandemic. Our headquarters are located in Stockholm, Sweden, which has been our base for the past 140 years. Executive Team - Photos. Despite the economic uncertainty over the coronavirus outbreak, many telecom companies globally have been moving ahead with plans to upgrade to 5G networks, pushing up Ericsson's commercial contract wins to 99.Including the 1.6 percentage points hit, gross margin rose to 38.2% in quarter from 36.7% in the year-ago period.But some of those contract wins came with a cost.

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