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Ericsson reports fourth quarter results

01/28/2011   •   Profession news
Ericsson reports fourth quarter results

"Group sales in the quarter increased 8% year-over-year and 32% sequentially mainly driven by a strong development in mobile broadband. 2010 marks the first year of 4G/LTE and we have established a clear lead in this area. In 2010, mobile broadband subscriptions increased 30% to approximately 500 million, still only representing some 10% of total mobile subscriptions. We expect the strong uptake for mobile broadband to continue in 2011, with number of mobile broadband subscriptions expected to double and hit one billion already this year. By 2015 it is estimated that mobile broadband coverage will grow to around 75% of all mobile broadband subscriptions. We are well positioned to support our customers in meeting the changing consumer behavior," says Hans Vestberg, President and CEO of Ericsson.