Ericsson has announced that it has signed agreements for credit facilities with the Nordic Investment Bank (NIB) for US$220mn, maturing in 2023, and AB Svensk Exportkredit (SEK) for US$150mn, maturing in 2025
While strengthening Ericsson’s balance sheet and financial flexibility, these new funds are expected support R&D activities to further develop 5G and other mobile innovations. As mobile networks are growing to deliver superior mobile broadband and communication services with increased data rates, improved coverage, availability and quality, they are set to open-up for new services and business opportunities.
"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," said Erik Ekudden, Ericsson chief technology officer.
In the future 5G networks will go live around the world, says Erik, with major deployments from 2020. He notes that he expects 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,” says Erik.
Ericsson highlights that key for success in the telecom industry is the delivery of future-proof, high-quality networks and solutions. The firm had invested US$3.8bn in R&D in 2016 and is a key contributor in the development of open telecom standards, with some 42,000 patents held by end of 2016.
