Ericsson increases shares in joint LG venture

Ericsson has revealed that it has increased its share in LG-Ericsson from 50 percent plus one share to 75 percent.

The Swedish firm has not disclosed how much it has paid for the additional shares in LG-Ericsson, which is a joint venture between LG Electronics and Ericsson.

Ericsson purchased shares in the company which were previously owned by Nortel in July 2010.

The joint venture is said to offer specifically tailored solutions to operators and enterprises, and focuses on a wide range of mobile and fixed network infrastructure, telecoms services, software, broadband, voice and data network solutions.

The organisation has a 1,300-strong workforce and its main headquarters are based in Seoul, South Korea. The joint venture has been fully consolidated by Ericsson since the acquisition in 2010.

Ericsson, meanwhile, is headquartered in the Swedish capital of Stockholm, has more than 100,000 employees and currently operates in 180 countries.

More News

Gaming drives growth as app store revenues rise 40 percent in 2016 Gaming drives growth as app store revenues rise 40 percent in 2016 People are spending increasing amounts of time in and money on apps, according to new research. More detail
Ericsson, Ciena trial intercontinental data encryption with Telstra Ericsson, Ciena trial intercontinental data encryption with Telstra Ericsson has worked with Australian operator Telstra to showcase how data can be encrypted in transit at 10GBps. More detail
Telia Carrier heads east with new route Telia Carrier heads east with new route Telia’s wholesale arm has established a new cable route between Stockholm and St. Petersburg and upgraded submarine cables to boost its network capacity. More detail
European Communications launches digital transformation survey European Communications launches digital transformation survey European Communications’ latest quarterly survey delves into operators’ views about digital transformation. More detail
Profit-hungry Ekholm officially takes the helm at Ericsson Profit-hungry Ekholm officially takes the helm at Ericsson Börje Ekholm’s task of reviving Ericsson has begun as he starts his first day as President and CEO of the Sweden-based vendor. More detail
    

@eurocomms