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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Ericsson AB    ERIC B   SE0000108656

ERICSSON AB

(ERIC B)
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Ericsson : Dutch telecom KPN picks Ericsson over Huawei for 5G network

10/15/2020 | 04:04am EST
FILE PHOTO: The Ericsson logo is seen at the Ericsson's headquarters in Stockholm

AMSTERDAM (Reuters) - KPN has chosen Sweden's Ericsson to build core elements of its new 5G mobile network following a decision last year not to select China's Huawei, the Dutch telecoms company said on Thursday.

Huawei is effectively banned in the United States and Washington had expressed fears that if KPN's 5G backbone contained Huawei equipment it would be vulnerable to spying by the Chinese state.

Huawei, the world's biggest telecoms equipment and smartphone vendor, has denied U.S. allegations that it is ultimately answerable to the Chinese government and is therefore a security risk.

KPN said in April 2019 that it would select a Western supplier to build its core 5G mobile network, making it one of the first European operators to eliminate Huawei.

In its statement on Thursday, KPN said it "will collaborate with Ericsson" for the implementation of its core 5G technology.

No financial details of the deal with Ericsson were disclosed.

(Reporting by Anthony Deutsch; Editing by David Clarke)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ERICSSON AB -0.43% 104.65 Delayed Quote.28.92%
ROYAL KPN N.V. 0.61% 2.478 Delayed Quote.-6.16%
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Financials
Sales 2020 230 B 27 093 M 27 093 M
Net income 2020 15 421 M 1 814 M 1 814 M
Net cash 2020 20 164 M 2 372 M 2 372 M
P/E ratio 2020 22,6x
Yield 2020 1,50%
Capitalization 352 B 41 389 M 41 362 M
EV / Sales 2020 1,44x
EV / Sales 2021 1,34x
Nbr of Employees 99 826
Free-Float 89,0%
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Number of Analysts 24
Average target price 117,52 SEK
Last Close Price 105,15 SEK
Spread / Highest target 33,5%
Spread / Average Target 11,8%
Spread / Lowest Target -10,6%
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Managers
NameTitle
Erik Börje Ekholm President, Chief Executive Officer & Director
Ronnie Leten Chairman
Carl Mellander CFO, Senior VP & Head-Group Function Finance
Erik Ekudden Chief Technology Officer & Senior Vice President
Torbjörn Nyman Director
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