Today at Ericsson's (NASDAQ:ERIC) Capital Markets Day in Boston, US, President and CEO, Carl-Henric Svanberg spoke about Ericsson's position, opportunities during and after current economic crises and about telecommunications going forward. Telecom will play a role in transforming society until 2050, with broadband being society's new highways and telecom contributing to sustainable society.
"Today broadband is at the turning point with infrastructure already widely available worldwide. However, we have not realized the full impact and potential that it will bring to society. Over the next 20 to 30 years, it will stimulate innovation across society and will lead to the deployment of completely new solutions," Svanberg said.
Svanberg also addressed how well the company is prepared for current market challenges and opportunities by focusing on business growth and advancing solution in strategic markets, including the US, India, China and Japan. He reminded those present about Ericsson's early introduction of cost-reduction programs to safeguard its leading position. Svanberg reaffirmed Ericsson's support for its two joint ventures, which are undergoing substantial cost adjustments to meet a weaker handset market and which are sharpening their portfolios.
Sony Ericsson's President, Dick Komiyama, and ST-Ericsson's CEO, Alain Dutheil, also participated as speakers.
Komiyama said: "Despite the challenging economic environment, I am certain that Sony Ericsson will turn its business around and once again be an industry leader. In the past 12 months, we have taken many actions to streamline the organization and adapt to the new business reality. We are looking forward to exciting the market with new products and services in the months ahead."
Dutheil said: "We created a new, exciting industry leader in wireless platforms and semiconductors only two months ago, being the first to consolidate in our industry in a challenging economic climate. We acted quickly to further strengthen our positioning with customers and our solutions portfolio, while putting in place short-term plans to create a sustainable base for our operations and our long term success."
Ericsson had the honor of welcoming Tony Malone, Senior Vice President and Chief Technology Officer, Verizon Wireless, as a speaker at the Capital Markets Day.
The management team emphasized network transformation to all-IP and the importance of Ericsson's presence in Silicon Valley, Ericsson's further strengthened position in services, and the growing multimedia business.
Other featured Ericsson speakers at the Capital Markets Day included Hans Vestberg, Executive Vice President and Chief Financial Officer; Håkan Eriksson, Senior Vice President and Chief Technology Officer; Johan Wibergh, Senior Vice President, Head of Business Unit Networks; Bert Nordberg, Executive Vice President and Chairman of Redback and Entrisphere; Jan Frykhammar, Senior Vice President, Head of Business Unit Global Services; and Jan Wäreby, Senior Vice President and Head of Business Unit Multimedia.
Notes to editors:
Live webcasts of Capital Markets Days are available on www.ericsson.com/press and www.ericsson.com/investors. Presentations are webcast both on May 7 and 8.
Ericsson's multimedia content is available at the broadcast room: www.ericsson.com/broadcast_room
Ericsson is the world's leading provider of technology and services to telecom operators. The market leader in 2G and 3G mobile technologies, Ericsson supplies communications services and manages networks that serve more than 250 million subscribers. The company's portfolio comprises mobile and fixed network infrastructure, and broadband and multimedia solutions for operators, enterprises and developers. The Sony Ericsson joint venture provides consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of 'communication for all' through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 70,000 employees generated revenue of USD 27 billion (SEK 209 billion) in 2008. Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is listed on OMX Nordic Exchange Stockholm and NASDAQ.
For more information, visit: www.ericsson.com or www.ericsson.mobi.
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