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    ERIC B   SE0000108656

ERICSSON AB

(ERIC B)
  Report
Delayed Quote. Delayed Nasdaq Stockholm - 06/23 11:29:37 am
106 SEK   -3.20%
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Ericsson : Dutch telecom KPN picks Ericsson over Huawei for 5G network

10/15/2020 | 04:04am EDT
FILE PHOTO: The Ericsson logo is seen at the Ericsson's headquarters in Stockholm

AMSTERDAM (Reuters) - KPN has chosen Sweden's Ericsson to build core elements of its new 5G mobile network following a decision last year not to select China's Huawei, the Dutch telecoms company said on Thursday.

Huawei is effectively banned in the United States and Washington had expressed fears that if KPN's 5G backbone contained Huawei equipment it would be vulnerable to spying by the Chinese state.

Huawei, the world's biggest telecoms equipment and smartphone vendor, has denied U.S. allegations that it is ultimately answerable to the Chinese government and is therefore a security risk.

KPN said in April 2019 that it would select a Western supplier to build its core 5G mobile network, making it one of the first European operators to eliminate Huawei.

In its statement on Thursday, KPN said it "will collaborate with Ericsson" for the implementation of its core 5G technology.

No financial details of the deal with Ericsson were disclosed.

(Reporting by Anthony Deutsch; Editing by David Clarke)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ERICSSON AB -3.20% 106 Delayed Quote.12.15%
ROYAL KPN N.V. -1.42% 2.629 Real-time Quote.7.24%
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Financials
Sales 2021 240 B 28 285 M 28 285 M
Net income 2021 18 533 M 2 186 M 2 186 M
Net cash 2021 28 478 M 3 359 M 3 359 M
P/E ratio 2021 18,9x
Yield 2021 1,99%
Capitalization 353 B 41 587 M 41 602 M
EV / Sales 2021 1,35x
EV / Sales 2022 1,23x
Nbr of Employees 101 113
Free-Float 89,4%
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Technical analysis trends ERICSSON AB
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 106,00 SEK
Average target price 131,14 SEK
Spread / Average Target 23,7%
EPS Revisions
Managers and Directors
NameTitle
Erik B÷rje 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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