April 25, 2012
Ericsson's financial report was released at 7.30am CET, on April 25, 2012. On this page you will find: CEO Comments, Press Conference webcast and the Media & Analyst conference call information.
“Sales of high-performance mobile broadband developed well in North America, Japan and Korea, while other regions such as Europe including Russia, parts of Middle East and India were weaker,” says Hans Vestberg, President and CEO of Ericsson (NASDAQ:ERIC). “CDMA continued its expected decline in the transition to LTE. Our services business showed continued momentum where especially Professional Services developed favorably. Support Solutions (former Multimedia) increased organic sales.
In the quarter, we took important steps in our strategy execution. The announced acquisition of BelAir adds WiFi capabilities to our hetnet portfolio and by acquiring Technicolor’s Broadcast Services Division we have strengthened our position in media and broadcasting services, targeting a leadership position in Europe. With the completed divestment of Sony Ericsson, we have left the consumer part of the handset business in order to focus on enabling connectivity for all devices, handsets and beyond. Last year, we gained market share in our core businesses and continued to build a strong LTE position where we have more than 60% market share.
Late 2010, we took a strategic decision to increase our market share in Europe when operators started to modernize their networks and replacing old infrastructure with new multi-standard radio base stations. This, together with the business mix with more coverage than capacity projects, has, as expected, had a negative impact on gross margin YoY and is expected to prevail short-term.
Our joint venture ST-Ericsson has launched a revised strategy and actions to reduce its break-even point. We remain confident that ST-Ericsson has a strategic position in the industry to enable the device ecosystem,” concludes Vestberg.
The conference call for financial analysts, investors and media began at 14.00 CET.
A replay of the conference call will be available after the scheduled end time. The playback will be available from 16.30 CET on April 25, 2012, until 23.59 CET on May 1, 2012
Ericsson held a press conference and a live webcast that started at 09.00 CET on April 25 at Ericsson Studio, Grönlandsgången 4, Kista.
Ericsson President and CEO Hans Vestberg and CFO Jan Frykhammar commented on the report and answered questions. The press conference was open to journalists and analysts.
Note:Webcast viewers were not able to pose questions.
- Salam Tower 17th Floor Corniche Road West bay Area Doha - 23805 -Qatar