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

BT to use smart lockers to speed up network improvements BT to use smart lockers to speed up network improvements BT hopes to speed up the installation and maintenance of broadband and phone services thanks to a roll out of “smart” lockers across the UK. More detail
Millennials are “an intriguing mix of contradictions”, study finds Millennials are “an intriguing mix of contradictions”, study finds Millennials have fragmented digital identities and refuse to be sold to, according to a new report that warned brands have a big job on their hands to keep up with this key demographic. More detail
TalkTalk, KCOM suffer Mirai-based cyber attacks TalkTalk, KCOM suffer Mirai-based cyber attacks TalkTalk and KCOM are the latest network operators to suffer at the hands of Mirai malware after the two UK telcos confirmed that customer routers had been affected. More detail
Nokia and HPE team up for new enterprise-focused IoT partnership Nokia and HPE team up for new enterprise-focused IoT partnership Nokia and Hewlett-Packard Enterprise (HPE) are to jointly market and sell IoT applications for industry, manufacturing and smart cities. More detail
Ethical hackers claim Mirai is “tip of the iceberg”, as Deutsche Telekom boosts security after attack Ethical hackers claim Mirai is “tip of the iceberg”, as Deutsche Telekom boosts security after attack Deutsche Telekom will redouble its network and data security in the light of this week’s failed hack on its routers, which saw around 900,000 customers disconnected from telephone, broadband and television... More detail
    

@eurocomms