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Ericsson (ADR) (NASDAQ:ERIC): Transforming The World With Technology

Boston, MA 05/07/2014 (wallstreetpr) – Ericsson (ADR) (NASDAQ:ERIC) has been picked by New York’s Consolidated Edison Company (Con Edison) to make available managed services for Integrated Digital Enhanced Network, it’s private wing. Con Edison supplies utilities like gas, electric and steam service in Westchester County and New York City. Technicians of Con Edison serve over 1.1 million gas and 3.3 million electric customers. For their dispatch, iDEN network is utilised. This deal qualifies to be Ericsson’s maiden managed services deal having public utility in the U.S. Ericsson looks to servicing one core network and 24 cell sites for Con Edison

Key developments

Raings agency Moody’s has downgraded senior unsecured ratings of the company from A3 to Baa1. The reason for this downgrade was given as lower than expected recovery in profits in the last financial year. Outlook on the ratings is stable though.

Ericsson (ADR) (NASDAQ:ERIC) has carved a couple of new business units by breaking down its business unit “Networks” into two new units that would be Cloud & IP and Radio. The company is looking to harness this transformation to better concentrate on the needs of each business while having a full view of the entire range of network operations. The new units are likely to be in effect from July 1. Complete change is likely to be frozen during the period of July to September this year.

Key alliances

The company has signed an agreement with Pelephone, an Israeli mobile operator for the supply of equipment and developing and building a fourth generation network. The network will also lend support to 4.5G technology. Pelephone plans launching the network with numerous sites within the next three months provided all statutory approvals are in place.

Ericsson has got a five year long agreement to support the roll out of Myanmar’s Telenor network across the country. Ericsson’s network will be deployed along with second and third generation equipment that could be upgraded for requirements in the times to come.

Ericsson (ADR) (NASDAQ:ERIC) has come along with Smile Communications in Nigeria to launch a fourth generation network. Both these companies have entered into a three-year contract to build upwards of 1,100 such sites across the country.

Published by Duncan Oleinic

Duncan Oleinic is from New Yourk. After graduating with a degree in physics, he began his career as an analyst in a broking firm. Through this experience he was able to advance to the role of correspondent for a U.S based financial news provider, where he worked from 2001 to 2007. He subsequently joined a merchant banking firm as a financial analyst focused on valuing unlisted companies in the sub-continent. Over the course of his two years here, he performed valuations of several media companies which were later acquired by peers.

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