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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Ericsson AB    ERIC B   SE0000108656

ERICSSON AB

(ERIC B)
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Telefonaktiebolaget LM Ericsson publ : Ericsson drives 5G progress in Europe with new R&D site in France

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01/21/2020 | 06:07am EST

R&D site to employ up to 300 employees in a progressive ramp-up starting early 2020.

Initial focus on 5G software development and security

Establishment in France will complement Ericsson's strong R&D base in Europe

Ericsson (NASDAQ: ERIC) announced today it will establish a new R&D site in France with up to 300 employees, accelerating 5G momentum in Europe. This site will focus initially on 5G software development and security, benefitting the global 5G ecosystem and leveraging on our collaboration with French customers.

A prerequisite for the future digital economy is a reliable, secure, and high-quality mobile network infrastructure. With 5G as the innovation platform, communication service providers will be able to help build the future digital society - expanding their operations from primarily mobile connectivity to new consumer and enterprise services.

To fuel this development, Ericsson will open the new R&D site in early 2020, with a progressive ramp-up to increase its R&D presence to up to 300 employees. An initial unit will be established at Ericsson's offices in Massy, France, part of Paris-Saclay, one of Europe's largest innovation zones. This will provide access to a competence pool and foster industry and academic collaborations.

Fredrik Jejdling, Executive Vice President and Head of Networks, Ericsson, says: 'We recognize the economic and technological importance of the French market and the country's influence in Europe. The rich technology ecosystem and key competencies that are present in France are conducive to building 5G through a strong R&D presence in the country. This initiative will strengthen Ericsson's 5G software portfolio, including enhancing security capabilities, especially for the French and European markets. It will also support our continued focus on Europe and bring the latest innovations to our customers.'

Ericsson currently employs 15,000 engineers in Europe: 60 percent of its total R&D staff. The company has 18 R&D centers in Europe including Finland, Germany, Hungary, Ireland, Italy, Poland, Spain, and Sweden.

As 5G rollout gathers momentum for service providers around the world, customer proximity is particularly relevant. In September 2019, Ericsson completed a SEK 500 million investment at its factory in Tallinn, Estonia, directly benefiting the European market.

NOTES TO EDITORS

Find out more about Ericsson 5G

Ericsson Radio System

Ericsson Core network

Find out more about Ericsson's other publicly announced 5G contracts

Find out more about Ericsson's 5G partnerships

Find out more about Ericsson 5G use case trials

For media kits, backgrounders and high-resolution photos, please visit www.ericsson.com/press

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MORE INFORMATION AT:

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media.relations@ericsson.com

(+46 10 719 69 92)

investor.relations@ericsson.com

(+46 10 719 00 00)

ABOUT ERICSSON

Ericsson enables communications service providers to capture the full value of connectivity. The company's portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson's investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (SEK)
Sales 2019 227 B
EBIT 2019 11 644 M
Net income 2019 2 144 M
Finance 2019 25 343 M
Yield 2019 1,54%
P/E ratio 2019 135x
P/E ratio 2020 17,1x
EV / Sales2019 1,13x
EV / Sales2020 1,07x
Capitalization 281 B
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 98,39  SEK
Last Close Price 84,68  SEK
Spread / Highest target 33,4%
Spread / Average Target 16,2%
Spread / Lowest Target -9,07%
EPS Revisions
Managers
NameTitle
Erik Börje Ekholm President, Chief Executive Officer & Director
Ronnie Leten Chairman
Carl Mellander CFO, Senior VP & Head-Group Function Finance
Erik Ekudden Chief Technology Officer & Senior Vice President
Torbjörn Nyman Director
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