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

Mobile Industry Works Together to Deliver 5G Standard on Time

Mobile Industry Works Together to Deliver 5G Standard on Time

18 Jun 2018 comment

3GPP TSG Plenary Meeting has approved the completion of the standalone Release 15 5G specifications.

5G on a Roll With Cellular IoT Deployments Ramping Up

5G on a Roll With Cellular IoT Deployments Ramping Up

13 Jun 2018 comment

Commercial rollouts of 5G and larger than previously forecasted deployments of cellular IoT are focal points in the latest edition of the Ericsson Mobility Report.

Movistar Argentina Selects Ericsson Radio System

Movistar Argentina Selects Ericsson Radio System

12 Jun 2018 comment

Movistar Argentina has selected Ericsson to transform its Radio Access Network over a three-year period based on Ericsson Radio System.