Ericsson has announced a series of organizational and structural changes to strengthen strategy execution to drive growth and profitability. Over the past number of years, Ericsson has made a number of key strategic decisions designed to build new revenue areas and to drive efficiencies in the core business. This includes exiting the handset and modems businesses, an enhanced partnership strategy on IP, and investments to build targeted growth areas with strong focus on software and professional services.
Hans Vestberg, President & CEO, Ericsson, says, “We are not satisfied with our overall growth and profitability development over the past years. We are today announcing further actions to accelerate strategy execution and to drive efficiency and growth across the company even harder. We will create a leaner, more fit for purpose organization, to cater for the needs of different customer segments and to faster capture market opportunities. As 5G, the Internet of Things, and Cloud drive the next phase of industry development, the time is just right to make these changes.”Read more