Ericsson loss puts its board in crisis mode; a special panel wil monitor management; new job cuts planned

Article Abstract:

In response to first-quarter loss, Telefon AB L.M. Ericsson will take drastic restructuring measures to stop losses in its handset division. Plans include the offering of assets worth $1 billion. The firm will soon finalize a joint venture with Sony Corp.'s handset division, to be called Sony Ericsson and to be based in London. The joint venture will be devoted to the design, development, production and marketing of handsets.

United Kingdom, Sweden, Central Station Switch Eqp, Management, Planning, Telephone switching equipment, Central office equipment (Telephone), Sony Ericsson Mobile Communications Management Ltd.

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Nokia releases profit, sales warnings, sending issue down 19% on Big Board

Article Abstract:

The spending slowdown in the United States has caught up with Nokia Corp.'s bottom line. The firm's profit warning sent Nokia American's depositary shares down $5.45 to $23.26, from a 52-week high of $62.50. Instead of steadily increasing sales through 2003, the global leader in cellphones now predicts little or no increase in 2001. The firm expects GPRS, general packet radio services, technology to "improve on current mobile-Internet services" over the next 18 months.

Finland, Communications Equipment, Telecommunications Equipment, Communications Equipment Manufacturing, Radio & TV communications equipment, Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing, Cellular Mobile Tel Equip, Securities prices, Statistical Data Included, Finance, Cellular telephones, Wireless telephones, Forecasts and trends, Supply and demand, Telecommunications systems, Nokia Corp., NOK, Cellular telephone equipment industry

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Ericsson is talking to networking firms in the U.S. about possible acquisition

Article Abstract:

Telefon AB L.M. Ericsson has started talks to acquire three US networking companies and is considering seven others, in a move to enter the market for Internet data traffic. The telecommunications-equipment giant says the delicate negotiations reflect its greater interest in less-expensive start-up companies valued at several hundred million dollars apiece. Data traffic presently totals nearly 50% of a typical phone network's traffic, with voice accounting for the remainder. By comparison, industry estimates show that data will hold a 5-to-1 ratio over voice by 2001 and 20-to-1 margin by 2005. Ericsson ,therefore, must expand its selection of hubs and routers for phone operators to conduct data traffic over the Internet. Hypercom, Juniper Networks and Newbridge Networks are among the smaller American router companies.

Data Message Switching Eqp, Mergers, acquisitions and divestments, Company acquisition/merger, Computer networking equipment

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