The Swedish firm's clients in its core business include Vodafone and Verizon but profits have plunged due to competition from Nokia and China's Huawei and as telecoms companies make savings. "We will focus on telco clients and networks exclusively for now," Ericsson's new head of Digital Services Ulf Ewaldsson told Reuters in a recent interview. Investors welcomed the greater focus after years of disappointing investments from Ericsson, but they worry the new plan will not generate growth. While Ericsson pulls back, arch-rivals Huawei and Nokia are forging ahead with corporate clients in the automotive, transport and energy sector. Ericsson had been betting on media clients but is now exploring a sale of the unit.

Source: bd News24 June 27, 2017 05:26 UTC