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

ERICSSON AB

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Ericsson : Sweden's Ericsson sees 220 million 5G subscriptions by year end

11/30/2020 | 04:07am EST
FILE PHOTO: The Ericsson logo is seen at the Ericsson's headquarters in Stockholm

STOCKHOLM (Reuters) - Sweden's Ericsson on Monday raised its global forecast for 5G mobile subscriptions to 220 million by the end of this year, citing faster than expected uptake in China.

The telecoms equipment maker, which had previously forecast 190 million subscriptions, said it expects China to account for almost 80% of the newly forecast total.

"What has fuelled the growth is China, and that is driven in itself by a strong strategic national focus on 5G in China," Head of Networks Fredrik Jejdling told Reuters.

Ericsson said in its biannual Mobility Report that 2020 had seen society take a "big leap towards digitalization", as the pandemic acted as a catalyst for rapid change and highlighted the impact connectivity has on peoples' daily lives.

About 15% of the world's population, or 1 billion people, are expected to be in an area that would be covered by 5G by the end of the year, said Jejdling.

The company forecast 3.5 billion 5G subscriptions by the end of 2026, accounting for more than 50% of mobile data traffic, and with four out of every 10 mobile subscriptions being 5G.

Ericsson, which competes with China's Huawei and Finland's Nokia, added that 60% of the world's population will have access to 5G coverage in 2026.

Ericsson has won contracts from all three major operators in China to supply radio equipment for 5G networks.

The mobile network industry has faced waning demand for 4G and older network equipment, but 5G spending in North America has helped to fuel a return to growth.

The new generation of mobile phone technology will bring faster data speeds and support a greater variety of connected devices.

(Reporting by Helena Soderpalm and Supantha Mukherjee; Editing by Jan Harvey)

By Helena Soderpalm and Supantha Mukherjee


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ERICSSON AB 0.36% 99.06 Delayed Quote.1.45%
NOKIA OYJ -0.89% 3.3525 Delayed Quote.6.39%
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Financials
Sales 2020 230 B 27 397 M 27 397 M
Net income 2020 15 278 M 1 820 M 1 820 M
Net cash 2020 18 933 M 2 256 M 2 256 M
P/E ratio 2020 21,4x
Yield 2020 1,59%
Capitalization 333 B 39 721 M 39 627 M
EV / Sales 2020 1,36x
EV / Sales 2021 1,29x
Nbr of Employees 99 826
Free-Float 89,2%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 116,34 SEK
Last Close Price 99,06 SEK
Spread / Highest target 41,7%
Spread / Average Target 17,4%
Spread / Lowest Target -5,11%
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Managers and Directors
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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