There are no grounds for the information printed in Swedish press that speculates about a new efficiency program leading to 25000 redundancies at Ericsson.

"In a long-term perspective, I have strong optimism for Ericsson and for the 3G market," said President and CEO Kurt Hellström in his speech to shareholders at the Annual General Meeting yesterday.

"The change process and the pursuit of savings will never come to an end. They will be part of our daily operations for as long as we are active in a competitive market", Mr. Hellström said. "We cannot yet foresee a tournaround. For Ericsson, the arduous task of adapting to the situation continues. At the same time, we are safeguarding our leading position and achieving new market successes."