February 19, 2003 |
RealNetworks Inc. of Seattle is set to announce today that Ericsson, the leading supplier of equipment for mobile-phone networks, is incorporating the company's technology for transmitting audio and video into its products. No financial terms were disclosed, and the agreement doesn't supersede Ericsson's existing arrangement for wireless multimedia with Sun Microsystems Inc. and Apple Computer Inc.
November 7, 2002 |
Nokia, Siemens, Ericsson and NTT DoCoMo Inc. agreed to reduce royalty payments for faster wireless technology to boost their chances of getting chosen by phone companies over San Diego-based Qualcomm Inc. The companies aim to keep royalties related to wideband code-division multiple access technology at less than 5% of the price of the equipment. That's less than companies must pay Qualcomm, which is the most significant single owner of patents for WCDMA and cdma2000, a rival technology.
October 1, 2002 |
Telecom equipment maker Ericsson said its sales and orders would fall in the July-September quarter, sending its share price plunging to 10-year lows. But the Swedish firm stood by its forecast of mobile network sales falling more than 15% this year and stabilizing next year. Ericsson also said it would lay off more than 1,000 employees at two Swedish plants.
September 13, 2002
Ericsson's credit rating was cut by Moody's Investors Service to two steps below investment grade, triggering a drop in the share prices for the Swedish telecommunications equipment giant. * * Tokyo-based electronics maker Fujitsu Ltd. will cut 3,000 jobs, or about 1.8% of its global work force, at two Japanese plants. All the cuts will be carried out through a voluntary early retirement program.
September 2, 2002 |
Two years ago, LM Ericsson was Sweden's biggest business, the main private employer, foreign exchange earner and bulwark of the stock exchange. Shares of the wireless equipment company, the world's largest, traded at $24 apiece. Ericsson shares now trade at 73 cents on Nasdaq, and company executives on an eight-nation tour are hard pressed to sell newly issued shares priced at just 40 cents. The downfall has wiped out nearly a decade of growth and burned thousands of investors.
August 2, 2002 |
Ericsson's debt was cut to "junk" status by Standard & Poor's Corp., but the Swedish telecommunications equipment giant's shares edged higher, bucking a broad market sell-off, because a danger to its critical $3.13-billion rights offering subsided. The one-notch downgrade appeared for now to eliminate the risk that a deeper cut might force the world's biggest wireless network maker to delay or cancel the offering. Ericsson needs cash to run its wireless equipment business and cut jobs.