Diabytes
Ericsson News
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The company said in December it would cut costs by 9 billion crowns ($880 million) by the end of 2023 as demand slows in some markets, including North America.Ericsson to lay off 8,500 employees
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5G services have been initially launched in13 cities
The mobile services will promote the use of high-speed data
PM Modi visited other booths at the event too
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In 2025, 88 percent of subscriptions are projected to be for mobile broadband.
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The study projected that total traffic will triple reaching 21EB per month in 2025.
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The Finnish company, battling with China`s Huawei and Sweden`s Ericsson, is trying to strengthen its 5G slate and looking especially to deployment by U.S. telecom companies for growth.
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The Supreme Court on Wednesday disposed of the contempt proceedings against Reliance Communication chairman Anil Ambani after he repaid Rs 453 crore to Ericsson India.
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The scrip jumped 10 per cent to Rs 4.40, its upper circuit limit, on the BSE.
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Failure to cough up the dues would have meant that RCom Chairman Anil Ambani would have faced a 3-month jail term.
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Lenders of RCom have opposed the plea, saying that it will lead to outgo of public money for settling payment of a private party.
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The NCLAT was hearing RCom's plea, which has approached the appellate tribunal seeking waiver over the moratorium placed by it on February 4.
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Ericsson India had on Friday moved the Supreme Court seeking initiation of contempt proceedings for the second time against RCom chairman Anil Ambani for allegedly not complying with its order to clear dues.
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RCom, in a regulatory filing to the BSE, said it will receive Rs 975 crore from sale of spectrum, and that it will pay Ericsson Rs 550 crore and RITL (Reliance Infratel) minority investors Rs 230 crore from the spectrum trading proceeds.
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RCom maintained it has already filed an application on September 28 in the apex court seeking extension of time for making payment to the Swedish telecom equipment maker, by 60 days.
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In May, India`s bankruptcy court admitted a plea by Ericsson seeking insolvency resolution against RCom over unpaid service dues.
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Anil Ambani-run RCom's plea is expected to be heard by the appellate tribunal in the coming week.
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Earlier this week, the NCLT in Mumbai admitted an insolvency petition filed by Swedish firm Ericsson against RCom and two of its subsidiaries seeking to recover Rs 1,150 crore.
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The stock after making a weak opening further tanked 20 percent to Rs 9.95 on BSE.
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The demonstration using Ericsson`s 5G test bed and 5G New Radio (NR) delivered a throughput of 5.7 Gbps and ultra-low latency of 3 millisecond.
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Approximately 70 per cent of consumers now watch videos on a smartphone -- double the amount from 2012, the findings showed.
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