Telverket standardizes on LM Ericsson's 500-point automatic switch system.

A joint company, Polska Aksynja Spolka Telefoniczna, PAST, is formed with the Polish government and receives a 25-year Warsaw concession. K.F. Wincrantz becomes President together with Gottlieb Piltz of Allmanna Telefonaktiebolaget LM Ericsson. LM Ericsson halves its share value. First punched-card 'workers' time control systems delivered.

First LM Ericsson 500-point switches in service. ITT beats Ericsson to Spanish concession. Ericsson Manufacturing Co. in the US is being sold.

A quotation for an automatic voting machine was delivered to the Finnish Parliament.

Compensation claims for the St Petersburg factory and SAT Moscow concession is abandoned. ITT buys International Western Electric CO., sets up International Standard Electric and acquires Mexicana. Ericsson a partner in Italy's SET, with concession for south; and in Fabbrica Apparechi Telefonici e Materiale Elettrico, FATME, with factory in Rome. K F Wincrantz becomes sole President, sets up AB Angsvik with Ivar Kreuger, buys Cedergren shares in order to add to his control of voting of Allmanna Telefon AB LM Ericsson.

Allmanna Telefon AB LM Ericsson becomes Telefon AB LM Ericsson. 50-year long-distance concession granted to Mexeric. Televerket installs first crossbar switch in Sundsvall. Lars Magnus Ericsson dies.

For effective follow-up of developments in the radio field LM Ericsson took over the controlling interest in Svenska Radioaktiebolaget which was established in 1919. LM Ericsson entered as part-owner in Rumania’s largest electricity company in order to participate in the major telephone undertakings planned in the Balkan States.

Ericsson acquires Sieverts Kabelverk and major interest in A/S Elektrisk Bureau, Oslo. Mexico City concession for Mexeric renewed.

ITT takes over Compania Union Telefonica del Rio de la Plata in Argentina. LM Ericsson joins Herlitzka counter-consortium. Wall Street crash. New railway systems company, LM Ericsson Signalaktiebolag established.

In Germany, ITT forms Standard Electric and acquires Lorenz from Philips. Opens discussions with Ivar Kreuger. LM Ericsson wins Romani Concession. Ivar Kreuger is discovered to own the majority of the voting rights in LM Ericsson. K. F. Wincrantz steps down as Managing Director and when he sells his shares, he loses his voting rights and his position on Board. Johan Gronberg becomes Managing Director. Ericsson buys land for expansion at Midsommarkransen, Stockholm.

Ivar Kreuger sells voting majority in LM Ericsson to ITT. LM Ericsson introduces the Bakelite phone, and acquires rights to the Centralograph machine-status-recorder.

ITT examines Ericsson's assets and withdraws from an agreement to buy LM Ericsson. Ivar Kreuger commits suicide and the unravelings begin. Staff salaries and bonuses are cut.

A change of Ericsson's Articles of Association is approved by the King in Council. Marcus Wallenberg Jr becomes Vice Chairman of LM Ericsson and Hans Theobald Holm Managing Director. Industrial Salaried Employees Association (SIF) formed.

Despite the growing extent of the business, the year's costs were reduced by about SEK 260,000 as a result of the reorganization. Debts diminished by about SEK 15.5 million. Televerket introduced LM Ericsson's time announcing machine.

Ericsson assembling Televerket's crossbar exchanges.