Global Scale, Strong Market Position Highlighted at Ericsson AGM
(firmenpresse) - STOCKHOLM, SWEDEN -- (Marketwire) -- 05/03/12 --
* At Annual General Meeting of shareholders, Ericsson President and CEO
Hans
Vestberg gave an overview of 2011 financial results and strategic
decisions
* Good sales growth; profitability remains in focus
* Information and Communications Technology (ICT) reaching all parts of
society - from electric vehicles to city planning
At Ericsson's (NASDAQ: ERIC) Annual General Meeting, President and CEO Hans
Vestberg reviewed financial results and discussed strategic decisions made
throughout 2011, which he told shareholders will ensure continued
technology and
services leadership for the company.
As previously reported in the Annual Report, published on March 15, income
increased by 12% and sales, excluding acquisitions and divestments,
increased by
19% adjusted for currencies. Net sales were SEK 227 billion for 2011.
During the
same period, Ericsson increased its market share for mobile network
equipment by
6% to 38%. Ericsson holds the number one position as a global telecom
equipment
vendor and is twice as large as its nearest competitor.
Vestberg gave an overview of Ericsson's focus areas: mobile broadband,
managed
services, and OSS/BSS (Operations Support Systems and Business Support
Systems).
Business Unit Support Solutions, formerly Multimedia, has defined a new
strategy
in 2012 that builds on OSS/BSS, TV and media solutions as well as
M-Commerce.
2011 was a tough year for Ericsson's joint ventures, which both reported
losses.
Vestberg remarked on the divestment of Sony Ericsson as emotional, because
Ericsson has been involved in making telephones practically since the
company's
inception in 1876, but said it made good business sense in the strategy to
enable 50 billion connected devices - not just phones.
With regard to ST-Ericsson, Vestberg told shareholders that the company has
presented a new business strategy and announced steps to return to
profitability.
Networked Society
By the end of 2011, there were 6 billion mobile subscriptions in the world.
There are about 7 billion people on Earth. Even more importantly,
subscriptions
for mobile broadband, or internet via mobile devices, increased by 60%
during
the year. By 2016, Ericsson predicts that mobile broadband subscriptions
will go
up to five billion. There are many examples of how the world is headed into
the
Networked Society, where people, business, and society use connected
devices to
their benefit. Vestberg presented two examples at the Annual General
Meeting.
Staffan Lorentz from the City of Stockholm, talked about Stockholm Royal
Seaport, where Ericsson is one of many partners in a project to build a
sustainable city of the future. Ten-thousand people will live and
30-thousand people are expected to work in the area, which is designed to
make it easy for
people to live in a low-carbon, ecologically-conscious way. Ericsson is an
ICT
advisor and is building a network that is used for much more than voice
calls.
The other example mentioned by Vestberg was an electric car charging
project,
done in collaboration with Victoria Institute, Göteborg Energi, and
Volvo Car
Corporation, where drivers can control the charging of a Volvo C30 Electric
car
via a mobile app. An actual car was parked outside the meeting area for
shareholders to see and touch.
Innovation
Ericsson invested close to SEK 33 billion in 2011 in Research and
Development
and employs about 22,000 engineers in R&D. The company is the largest
holder of
essential patents for wireless communication, with over 90 license
agreements
and 30,000 patents.
During the Annual General Meeting, three employees were brought onstage and
recognized as "Inventors of the Year." Thomas Cheng, from Ericsson Research
in
San Jose, California, USA, Paul Schliwa-Bertling, from Ericsson in
Linköping,
Sweden, and Iana Siomina, from Ericsson Research in Kista, Sweden, are
altogether responsible for 275 patent applications.
Sustainability and Corporate Responsibility Report 2011
Ericsson today publishes its Sustainability and Corporate Responsibility
Report
for 2011, Technology for Good. The report gives examples of Ericsson's
performance and activities in areas such as energy efficiency, in helping
to
reduce climate change, as well as its involvement in endeavors like
Refugees
United, which works to help refugees find their loved ones, and Connect to
Learn, where Ericsson provides ICT to enable a 21(st) century education for
secondary school students, especially girls, in Africa.
The report also highlights Ericsson's longtime commitment to human rights.
Onstage, Hans Vestberg said: "It is our firm conviction that access to
telecommunication is crucial to ensure human rights - the right to
education,
health care, not to mention freedom of expression and democracy."
He summed up by saying: "We have strengthened our position as the industry
leader and I'm convinced that Ericsson has what it takes to be the driving
force
in the Networked Society. Our best assets are our leadership within
technology
and services, our global scale, and of course the fantastic colleagues that
we
have around the world."
NOTES TO EDITORS
Sustainability and Corporate Responsibility Report
Electric Car Charging Project- Media Kit
Our multimedia content is available at the broadcast room:
Ericsson is the world's leading provider of communications technology and
services. We are enabling the Networked Society with efficient
real-time
solutions that allow us all to study, work and live our lives more freely,
in
sustainable societies around the world.
Our offering comprises services, software and infrastructure within
Information
and Communications Technology for telecom operators and other industries.
Today
more than 40 percent of the world's mobile traffic goes through Ericsson
networks and we support customers' networks servicing more than 2 billion
subscribers.
We operate in 180 countries and employ more than 100,000 people. Founded in
1876, Ericsson is headquartered in Stockholm, Sweden. In 2011 the company
had
revenues of SEK 226,9 billion (USD 35.0 billion). Ericsson is listed on
NASDAQ
OMX, Stockholm and NASDAQ, New York stock exchanges.
Press release as PDF:
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ericsson via Thomson Reuters ONE
[HUG#1608570]
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92
E-mail:
Ericsson Investor Relations
Phone: +46 10 719 00 00
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Datum: 03.05.2012 - 14:49 Uhr
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