Ericsson Signs Funding Agreements for 5G Research

Ericsson Signs Funding Agreements for 5G Research

Foto: Fotolia

Ericsson has signed agreements for credit facilities with the Nordic Investment Bank (NIB) for USD 220 million, maturing in 2023, and AB Svensk Exportkredit (SEK) for USD 150 million, maturing in 2025. Of these new funds, 98 million will replace credit with NIB that was set to mature in 2019.

In addition to strengthening Ericsson’s balance sheet and financial flexibility, these new funds support R&D activities to further develop 5G and other mobile innovations. Mobile networks are evolving to deliver superior mobile broadband and communication services with increased data rates, improved coverage, availability and quality that will open-up for new services and business opportunities.

Erik Ekudden, Ericsson Chief Technology Officer, says: "As part of our focused strategy we are increasing our investments to secure technology leadership in 5G, IoT and digital services. Already now we have 38 operators engaged with us on developing and preparing for 5G networks. This is more than any other company. In the coming years, we will see 5G networks going live around the world, with major deployments from 2020 and we believe that there will be one billion 5G subscriptions by the end of 2023. The technologies that we are investing in are fundamentally changing the way we innovate, collaborate, produce, live and do business.”

Key for success in the telecom industry is the delivery of future-proof, high-quality networks and solutions. To build on its technology leadership, Ericsson invested SEK 31.6 billion in R&D in 2016. The company is the key contributor in the development of open telecom standards, with some 42,000 patents held by end of 2016.

More from category

HT Connects 4,383 Households in Požega to Fiber-Optics

HT Connects 4,383 Households in Požega to Fiber-Optics

26 Nov 2020 comment

Hrvatski Telekom continued to invest in the development of telecommunications infrastructure in the town of Požega.

UK Proposes Tougher Security Measures for Telecoms

UK Proposes Tougher Security Measures for Telecoms

26 Nov 2020 comment

The UK government proposed a new bill to increase its powers over telecoms networks.

China Mobile Chose Nokia to Build IoT Grid

China Mobile Chose Nokia to Build IoT Grid

25 Nov 2020 comment

Nokia has been selected by China Mobile IoT (CMIoT) to ensure delivery of IoT connectivity and services to CMIoT’s customers across China and globally.