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    ERIC B   SE0000108656

ERICSSON AB

(ERIC B)
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Ericsson Launches Subscription Service for Remote Working

05/04/2021 | 06:36am EDT

By Dominic Chopping

STOCKHOLM--Ericsson AB on Tuesday announced the launch of a new subscription service for remote working in North America as it looks to benefit from the work-from-home boom and tap into new diversified 5G business applications.

Ericsson Wireless Office allows employees of small- and medium-sized businesses to set up a virtual desktop on any device in under five minutes and gives them access to licensed apps, cloud storage and 5G-ready communication tools, with no information technology expertise required.

Initially, the telecom giant is targeting 6 million small- and medium-sized companies in North America and Ericsson estimates the market for IT services in the U.S. alone is valued at $90 billion.

"The development of Ericsson Wireless Office is in line with Ericsson's increased focus on working with mobile operators to develop 5G solutions for companies and industries," the company said.

"The future workplace will become even more digital as the pandemic has increased the need for flexible workplaces," it said.

Customers will pay a monthly charge depending on the number of employees, what type of software they are licensing, and what type of IT services they are consuming.

Ericsson provides and manages the service and said it now has the first operator onboard that is launching Ericsson Wireless Office in the U.S. during the second quarter.

Initially launching in North America, Ericsson Wireless Office is expected to be available in Europe and Asia in the second half of this year.

Ericsson has developed a dedicated marketplace on the platform for business applications and also offers a "Bring Your Own License" option, it said.

Wireless Office is sold as a service to enterprises through Ericsson's primary customers, with support from channel partners specialized in small and medium businesses. It has partnered with U.S.-based agent Telarus to sell subscriptions to the platform.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

05-04-21 0836ET

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Financials
Sales 2021 240 B 28 870 M 28 870 M
Net income 2021 18 575 M 2 237 M 2 237 M
Net cash 2021 28 767 M 3 464 M 3 464 M
P/E ratio 2021 21,1x
Yield 2021 1,81%
Capitalization 388 B 46 568 M 46 687 M
EV / Sales 2021 1,50x
EV / Sales 2022 1,36x
Nbr of Employees 101 113
Free-Float 89,9%
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Number of Analysts 23
Average target price 132,19 SEK
Last Close Price 116,38 SEK
Spread / Highest target 28,9%
Spread / Average Target 13,6%
Spread / Lowest Target -18,4%
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Managers and Directors
NameTitle
Erik Börje Ekholm President, Chief Executive Officer & Director
Carl Mellander CFO, Senior VP & Head-Group Function Finance
Ronnie Leten Chairman
Erik Ekudden Chief Technology Officer & Senior Vice President
Xavier Dedullen Secretary, Chief Legal Officer & Senior VP
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