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Directly and through subsidiaries, Ericsson also has a
major role in mobile devices and cable TV and IPTV systems. Ericsson was also
the inventor of Bluetooth.
Founded in 1876 as a telegraph equipment repair shop by
Lars Magnus Ericsson, it was incorporated on August 18, 1918. Headquartered in
Kista, Stockholm Municipality, since 2003, Ericsson is considered part of the
so-called "Wireless Valley". Since the mid-1990s, Ericsson's
extensive presence in Stockholm has helped transform the city into one of
Europe's hubs of information technology (IT) research. Ericsson has offices and
operations in more than 180 countries, with more than 17,700 staff in Sweden,
and also significant presences in, for example, Brazil, China, Finland, India,
Ireland, Italy, Hungary, the UK and the US.
In the early 20th century, Ericsson dominated the world
market for manual telephone exchanges but was late to introduce automatic
equipment. The world's largest ever manual telephone exchange, serving 60,000
lines, was installed by Ericsson in Moscow in 1916. Throughout the 1990s,
Ericsson held a 35–40% market share of installed cellular telephone systems.
Like most of the telecommunications industry, Ericsson suffered heavy losses
after the telecommunications crash in the early 2000s, and had to lay off tens
of thousands of staff worldwide in an attempt to manage the financial
situation, returning to profit by the mid-2000s.
Type Publicly traded limited company
Traded as
OMX: ERIC B, NASDAQ: ERIC
Industry Telecommunications
equipment
Founded Stockholm,
Sweden (1876)
Founder(s) Lars
Magnus Ericsson
Headquarters Kista,
Stockholm, Sweden
Area served Worldwide
Key people Leif
Johansson (Chairman), Hans Vestberg (President and CEO),Jacob Wallenberg
(Deputy Chairman), Sverker Martin-Löf(Deputy Chairman)
Products Mobile
and fixed broadband networks, consultancy and managed services, multimedia
technology
Revenue SEK
226.9 billion (2011)
Operating income
SEK 21.7 billion (2011)
Profit
SEK 12.6 billion (2011)
Total assets
SEK 280.3 billion (end 2011)
Total equity
SEK 143.1 billion (end 2011)
Employees 104,525
(end 2011)
Subsidiaries
ST-Ericsson (50%)
LG-Ericsson (75%)
Website Ericsson.com
