- Zacks
Ericsson (ERIC) to Drive Digital Transformation in Thailand
Ericsson (ERIC) unveils new initiative to revolutionize digital transformation in Thailand with its state-of-the-art 5G solutions.
- Zacks
Ericsson (ERIC) to Report SEK 11.4B Non-cash Impairment Expense
Ericsson (ERIC) is set to record a non-cash impairment charge of SEK 11.4 billion in the second quarter of 2024, associated with the Vonage acquisition.
- Reuters
Ericsson shares fall after another $1 billion Vonage impairment charge
Telecom equipment maker Ericsson has recorded another billion-dollar impairment charge for its acquisition of cloud communications firm Vonage in 2021, sending its shares down 2% in early trade. Dubbed as one of its largest deals in history, Ericsson splurged $6.2 billion in cash to buy Vonage to help it target enterprise customers as it sought to diversify away from its mobile networks business. Since then, mobile network revenue has fallen due to lower demand for 5G gear, Ericsson's share price has halved over an Iraq bribing scandal, and it took a $3 billion non-cash charge last year on the Vonage deal.
