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☆ A Florida man returned from Europe with a $143,000 phone bill after failing to set up international roaming
▼ + stars: | 2024-04-19 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

A Florida man received a $143,000 phone bill from T-Mobile after an overseas trip to Switzerland. The charges were due to his phone not being set for international roaming, according to ABC Action News. AdvertisementA Florida man returned from a trip to Switzerland with his wife last September to discover he was facing an unexpectedly massive phone bill, Tampa's ABC Action News reported. AdvertisementRemund had incurred thousands of dollars in daily roaming charges because his phone was not set up for international roaming, the report said. Related storiesRemund said he contacted T-Mobile, which confirmed the bill was indeed what he owed, per ABC Action News.

Persons: —, Rene Remund, Remund Organizations: Mobile, ABC Action, Service, ABC, Forbes, Federal Communications Commission, Ericsson, North Locations: Florida, Switzerland

☆ Nokia sees stronger H2 after Q1 comparable profit grows less than expected
▼ + stars: | 2024-04-18 | by ( ) www.cnbc.com time to read: +1 min

Finnish telecom gear maker Nokia reported on Thursday a smaller rise than expected in first-quarter comparable operating profit as sales tumbled when operators reduced spending on 5G technology. Four analysts polled by LSEG had on average forecast a comparable profit of 663 million euros. "We remain confident in a stronger second half and achieving our full year outlook," he said in a statement. The company repeated an outlook announced in January for a comparable operating profit in 2024 of 2.3-2.9 billion euros. Nokia in January forecast a demand recovery in the second half of 2024.

Persons: LSEG, Pekka Lundmark Organizations: Nokia, Ericsson Locations: North America, India

☆ 'We need to continue the journey to take out costs' at Ericsson, says CEO
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We need to continue the journey to take out costs' at Ericsson, says CEOBörje Ekholm, CEO of Ericsson, discusses first-quarter results and the outlook for the telecommunications industry.

Persons: Börje Ekholm Organizations: Ericsson

☆ Ericsson's Q1 profit grows unexpectedly, eyes stabilisation of sales in H2
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: +1 min

Telecom equipment maker Ericsson reported on Tuesday a first-quarter adjusted profit that beat expectations and said sales might stabilise in the second half of the year despite weak demand for 5G gear. Operating profit excluding restructuring charges grew unexpectedly, to 4.3 billion crowns ($394.40 million) from a year-earlier 4.0 billion despite a 15% sales drop. The profit included a one-off gain of 1.9 billion crowns related to the resolution of a commercial dispute, Ericsson said. "In the second half, our margins should benefit from improved business mix," it said. Ericsson on Tuesday forecast a gross margin excluding restructuring charges at the Networks division of 42%-44% for the second quarter of 2024.

Persons: Ericsson Organizations: Telecom, Ericsson, LSEG, Radio Access Network, Networks Locations: Swedish, North America, China

☆ 3 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.

Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada

☆ Ericsson will cut 1,200 jobs in Sweden
▼ + stars: | 2024-03-25 | by ( Alex Koller | ) www.cnbc.com time to read: +1 min

Ericsson recently announced it is planning to cut 8,500 jobs as part of its cost-cutting measures. Ericsson announced on Monday that it will lay off around 1,200 employees in Sweden as the telecom company faces slowed demand for its 5G equipment. Last year, the company laid off 8,500 staffers, or about 8% of its workforce, to cut costs. Ericsson had 99,950 employees, including 10,744 workers in North America, at the end of last year, according to an SEC filing. In 2023, more than 260,000 workers were let go from almost 1,200 tech companies.

Persons: Ericsson Organizations: Ericsson, SEC, Industry, Meta, Microsoft, Cisco Locations: Sweden, North America

☆ Ericsson to lay off 1,200 people in Sweden amid challenging market
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: +1 min

Sweden's Ericsson on Monday said it would lay off about 1,200 employees in Sweden as a part of costs cuts announced earlier this year, citing a challenging mobile networks market and lower volumes in 2024. After a few years of high demand for 5G equipment, buying by telecom providers has slowed, prompting firms such as Ericsson and Nokia to lay off thousands of employees to save costs. "As previously stated, Ericsson expects a challenging mobile networks market in 2024, with further volume contraction as customers remain cautious," the company said in a statement. Ericsson will continue its initiatives to increase operational efficiency during 2024, but will not make any separate statements on those, it added. Ericsson had told Reuters in January it could look at further cost cuts this year including layoffs but without giving a specific number.

Persons: Sweden's Organizations: Sweden's Ericsson, Ericsson, Nokia, Reuters Locations: Sweden

☆ Malaysia Rises as Crucial Link in Chip Supply Chain
▼ + stars: | 2024-03-13 | by ( Patricia Cohen | ) www.nytimes.com time to read: +1 min

Construction cranes still surround the brand-spanking new plant in Kulim’s industrial park in Malaysia. But inside, legions of workers hired by the Austrian tech giant AT&S are already gearing up to produce at full capacity by year’s end. The American chip giant Intel and the German corporation Infineon are each investing $7 billion. Nvidia, the world’s leading maker of chips powering artificial intelligence, is teaming up with the country’s utilities conglomerate to develop a $4.3 billion artificial intelligence cloud and supercomputer center. Texas Instruments, Ericsson, Bosch and Lam Research are all expanding in Malaysia.

Organizations: Intel, Infineon, Nvidia, Texas, Ericsson, Bosch, Lam Research Locations: Malaysia, Austrian

☆ British telco giant BT expects to launch 5G standalone — or 'true' 5G — later this year
▼ + stars: | 2024-03-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Jason Alden | Bloomberg | Getty ImagesBARCELONA — British telecommunications giant BT says it expects to launch its first so-called "standalone 5G" network in 2024. Howard Watson, BT's chief technology officer, told CNBC that the telco group plans to switch on its standalone 5G network, which is often referred to in the industry as "true" 5G, later this year. "We've already been ensuring that the SIM cards that our customers have in their current 5G devices can do 5G standalone," Watson added. 5G standalone is different from 5G Advanced, though. 5G standalone refers to the development of a 5G network that isn't being built on top of 4G cores.

Persons: Jason Alden, Howard Watson, Watson, Milind Kulkarni, Kulkarni Organizations: BT Group, Bloomberg, Getty, BT, CNBC, Mobile, Congress, Swedish, Ericsson, Qualcomm, Apple, Samsung Locations: Reading, BARCELONA, British, Barcelona, Europe

☆ Ericsson CEO: Network operators need cross-European consolidation
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEricsson CEO: Network operators need cross-European consolidationBorje Ekholm, CEO of Ericsson, speaks to CNBC's Karen Tso at Mobile World Congress in Barcelona, Spain.

Persons: Karen Tso Organizations: Ericsson, Mobile Locations: Barcelona, Spain

☆ Cisco to cut thousands of jobs as it seeks to focus on high growth areas: Reuters
▼ + stars: | 2024-02-09 | by ( ) www.cnbc.com time to read: +1 min

A logo sits illuminated outside the Cisco booth at ISE 2024 on January 30, 2024 in Barcelona, Spain. Network giant Cisco is planning to restructure its business which will include laying off thousands of employees, as it seeks to focus on high-growth areas, according to three sources familiar with the matter. The San Jose, California-based company has a total employee count of 84,900 as of fiscal 2023, according to its website. The company is still deciding on the total number of employees to be affected by the layoffs, one person said. The move would come at a time when tech companies, including telecom makers Nokia and Ericsson, cut thousands of jobs last year in a bid to lower costs.

Organizations: Cisco, Network, Nokia, Ericsson, Microsoft Locations: Barcelona, Spain, San Jose , California

☆ Mikaela Shiffrin: Ski superstar tells CNN she was ‘lucky’ to escape major damage in high-speed crash
▼ + stars: | 2024-02-08 | by ( Ben Church | Don Riddell | ) edition.cnn.com time to read: +7 min

CNN —US skiing star Mikaela Shiffrin has set no timeline for her return to the slopes as she continues her recovery process following a high-speed crash in January. “This one, to be honest, I kind of saw it coming from the air, a little bit,” she added. “I was trying to avoid that scenario, but it also happens fast enough there’s not a lot you can do about it. Shiffrin rushed to his side at the hospital and was with him when he woke up from surgery. He just makes everyone around him smile.”Mikaela Shiffrin says she was lucky to avoid serious injury during a crash last month.

Persons: Shiffrin, ”, CNN Sport’s Don Riddell, ” Shiffrin, Aleksander Aamodt Kilde, “, Mikaela Shiffrin, Jonas Ericsson, Kilde, he’s, we’ve, Sofia Goggia, “ You’re, “ I’m, Taylor Swift, Travis Kelce, , I’ve Organizations: CNN, Agence, Federation, Kansas City Chiefs, San Francisco 49ers, Chiefs Locations: Italy, Andorra, Norwegian, Wengen, Switzerland, Italian, Ponte di Legno

The Espoo, Finland-based company reported net profit of 568 million euros ($619 million) for the October-to-December quarter, down from 929 million euros in the same period a year earlier. Nokia is one of the world’s main suppliers of 5G, the latest generation of broadband technology, along with Sweden’s Ericsson, China’s Huawei and South Korea’s Samsung. Nokia's net income attributable to shareholders came in at 558 million euros in the fourth quarter, down from 931 million euros the previous year. Nokia’s sales also fell 23%, to 5.7 billion euros from 7.5 billion euros. “Looking ahead, we expect the challenging environment of 2023 to continue during the first half of 2024, particularly in the first quarter,” he said.

Persons: China’s, Pekka Lundmark, ” Organizations: HELSINKI, Nokia, 5G, Sweden’s Ericsson, China’s Huawei, South, Samsung, eBay Locations: Espoo, Finland

☆ Nokia to begin $653 million share buyback program after profit slump and warning of challenging 2024
▼ + stars: | 2024-01-25 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Nokia on Thursday said that it will begin a two-year 600 million euro ($653 million) share buyback this quarter, after reporting that its profit plunged in 2023. Comparable operating profit fell 27% year-on-year to 846 million. The company forecast comparable operating profit will reach between 2.3 billion euros and 2.9 billion euros in 2024. India, which has been investing heavily in its next-generation mobile networks over the past couple of years, is beginning to slow down. Mobile networks, Nokia's biggest division by revenue, saw sales fall 17% year-on-year to 2.5 billion euros in the fourth quarter.

Persons: Pekka Lundmark, Lundmark Organizations: Nokia, Mobile, Mobile Networks, AT, Ericsson, U.S . AT Locations: India

☆ Ericsson warns of 2024 market decline despite Q4 earnings beat
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: +2 min

Ericsson said it expects further decline in 5G gear demand from mobile operators this year after beating fourth-quarter operating profit expectations on Tuesday helped by software sales. Telecoms equipment suppliers are expecting a challenging 2024 as 5G equipment sales - a key source of revenue - are slowing in North America, while India, a growth market, may also see a slowdown. That was mostly due to higher-margin software sales and lower sales of 5G equipment to lower-margin countries such as India. Ericsson said it would get a boost in the second half of the year from a $14 billion telecom deal with AT&T that it won over rival Nokia. The company on Tuesday also appointed Lars Sandstrom as chief financial officer, replacing long-time company veteran Carl Mellander.

Persons: Carl Mellander, Mellander, Börje Ekholm, Ericsson, Lars Sandstrom Organizations: Ericsson, Nokia, RAN, Radio Locations: North America, India, China

☆ 'India built out 5G at a pace we have not seen anywhere else,' says Ericsson CEO
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'India built out 5G at a pace we have not seen anywhere else,' says Ericsson CEOBörje Ekholm, CEO of Ericsson, discusses earnings and his market outlook with CNBC.

Persons: Börje Ekholm Organizations: Ericsson, CNBC Locations: India

☆ The 4 most important things we're watching in the stock market this coming week
▼ + stars: | 2024-01-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago

☆ Here are Friday's biggest analyst calls: Nvidia, Netflix, Apple, Starbucks, Marvel, Coinbase, IBM, Amazon & more
▼ + stars: | 2024-01-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs upgrades Fiverr to buy from neutral Goldman said the Israeli online marketplace is well positioned for AI. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating on Amazon shares. Bank of America downgrades Celsius to neutral from buy Bank of America says it sees "uncertainty to sales momentum" for the energy drink company. Deutsche Bank names Starbucks a top pick Deutsche says it sees an improved same-store sales environment for Starbucks in 2024. Bank of America upgrades Teekay Tankers to buy from neutral Bank of America upgraded the tanker stock due to "rising rate upside."

Persons: Stifel, McKhann, thoughtfully, Goldman, Goldman Sachs, FVRR, Raymond James, TXN, Oppenheimer, Morgan Stanley, ASML, Citi downgrades Blackstone, Carlyle, it's bullish, headwinds, Evercore, Price, Apple Evercore, Janney, Jefferies, Hertz Organizations: Broadcom, Semiconductor, Enterprise, Nvidia, Bank of America, Amazon, North, Holdings, Netflix, Deutsche Bank, Starbucks, Deutsche, SSS, UBS, Texas, Barclays, Nokia, Ericsson, Citi downgrades, Citi, BMO, Marvel, " Bank of America, United Rentals, of America, IBM, Enterprise IT, Apple, Shoals Technologies, Inc, HSBC, Discover, Motorola Solutions, HERTZ Locations: North America, 4Q, 2026E, CY24

☆ Stocks making the biggest moves midday: Apple, Nio, CVS Health, GitLab and more
▼ + stars: | 2023-12-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading. Nio — The Chinese automaker climbed about 3% after reporting a smaller-than-expected loss in the third quarter. Nio has taken steps to bring down costs recently, including a 10% cut to its workforce last month. CVS Health — Shares gained 4% after CVS said it would overhaul the way it prices prescription drugs . GitLab — The software company's shares jumped more than 12% a day after the company reported better-than-expected results for the fiscal third quarter.

Persons: Nio, GitLab, Adecoagro, Albemarle —, Piper Sandler, —, Samantha Subin, Hakyung Kim, Sarah Min, Alex Harring, Pia Singh, Michelle Fox Organizations: Apple, Bank of America, CVS, FactSet, UBS —, UBS, Suisse, Nokia, Ericsson —, Ericsson's, Ericsson, Albemarle Locations: China, U.S, Monday's, Ericsson's U.S, Sweden, Finland

☆ Stocks making the biggest moves premarket: GitLab, CVS Health, Take-Two Interactive & more
▼ + stars: | 2023-12-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The company posted its first adjusted operating profit and said revenue grew 32% year over year. CVS Health —The pharmacy stock climbed 3% in premarket trading after the company provided higher-than-expected revenue guidance for 2024. The auto parts retailer posted earnings of $32.55 per share, topping the FactSet consensus estimate of $31.57 per share. Smucker — Shares of the snack food company rose 3% in premarket trading after J.M. Adecoagro — The Latin American agriculture stock rose 2.3%.

Persons: GitLab, Johnson, Johnson — Johnson, Piper Sandler, AutoZone, Smucker, Adecoagro, —, Jesse Pound, Brian Evans, Sarah Min, Michelle Fox Organizations: CVS Health, CVS, FactSet, Rockstar, Nokia, Ericsson —, Ericsson, UBS, Bank of America, Suisse Locations: Finland, Sweden, Adecoagro

☆ Ericsson shares rally on AT&T network deal, Nokia drops
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: 1 min

A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo Acquire Licensing RightsDec 5 (Reuters) - Ericsson (ERICb.ST) shares rallied in early trading on Tuesday after AT&T (T.N) chose the Swedish telecoms equipment maker over Finnish rival Nokia (NOKIA.HE) to build a network under a five-year deal that could see spending reach $14 billion. Ericsson rose around 8% on German trading platform Tradegate, while Nokia fell 9%. Reporting by Danilo Masoni; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Lars Hagberg, Danilo Masoni, Amanda Cooper Organizations: Ericsson, REUTERS, Nokia, Thomson Locations: Kanata , Ontario, Canada

☆ Waymo is full speed ahead as safety incidents and regulators stymie competitor Cruise
▼ + stars: | 2023-12-05 | by ( Hayden Field | ) www.cnbc.com time to read: +6 min

Waymo, Alphabet 's self-driving car unit, is having a relatively good couple of months – at least, compared to one of its key rivals: GM 's Cruise. When Cruise began offering fully autonomous rides in San Francisco in the winter of 2022, Waymo followed in the fall. Now, after a barrage of safety concerns and incidents with Cruise self-driving cars in recent months, the landscape looks starkly different. I have worked with pretty high-scale systems before Waymo, at Google and Ericsson, and this is a pretty staggering scale. [Note: Waymo recently shared that Waymo riders took more than 700,000 trips in autonomous vehicles in 2023.]

Persons: Cruise, Waymo, Saswat Panigrahi, you've, –, … Organizations: Google, Cruise, California Department of Motor Vehicles, GM, CNBC, Ericsson, Phoenix Locations: Phoenix, San Francisco, Austin, Buffalo , New York, California, U.S

☆ Nokia plunges to three-year low after losing major AT&T deal to rival Ericsson
▼ + stars: | 2023-12-05 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Shares of Finland's Nokia plunged to a three-year-low, as the telecoms company lost out on a major deal to roll out a new telecoms network in the U.S. with industry juggernaut AT&T. Helsinki-listed Nokia shares were down 7% at 9:40 a.m. London time on the news that AT&T will be partnering with Swedish rival Ericsson, which will manufacture 5G equipment for the project at its factory in Lewisville, Texas. AT&T spend is set to be near $14 billion over its five-year contract with Ericsson, the companies said late Monday. The partnership covers the deployment of an open radio access network (Open RAN) in the U.S., which AT&T expects to use for 70% of its wireless network traffic by late 2026. Nokia CEO Pekka Lundmark called the news "disappointing," but said that the company remained "fully committed" to Open RAN and had a strategy to diversify its business and improve profitability.

Persons: Pekka Lundmark Organizations: Ericsson, Nokia, Helsinki, Swedish, RAN Locations: U.S, London, Lewisville , Texas, Stockholm

☆ AT&T Drops Nokia for Ericsson in $14 Billion Deal
▼ + stars: | 2023-12-04 | by ( Drew Fitzgerald | ) www.wsj.com time to read: 1 min

AT&T said its shift to Ericsson will fast-track its network overhaul and allow it to buy hardware and software from a broader range of suppliers in future years. Photo: patrick t. fallon/Agence France-Presse/Getty ImagesAT&T struck a deal with Ericsson to buy up to $14 billion of its hardware and services after the Swedish equipment supplier pledged to open up its software to competing systems. The five-year agreement would move virtually all of AT&T’s new purchases of certain cell-tower equipment to Ericsson, replacing existing machinery from Finnish rival Nokia in many markets. The Dallas-based telecom giant said it plans to start the swap next year and aims to have 70% of its wireless network traffic passing through open platforms by late 2026.

Persons: patrick Organizations: Ericsson, fallon, Agence France, Getty, Nokia Locations: Swedish, Dallas

The AT&T logo is seen on a store in Golden, Colorado United States July 25, 2017. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsSTOCKHOLM, Dec 4 (Reuters) - AT&T (T.N) said on Monday it plans to use so-called ORAN technology for 70% of its wireless network traffic in the United States by late 2026 and will move from two telecom vendors to one. While the technology has been tested by several telecom providers, it has not been widely adopted. AT&T's push for the technology will likely be a major boost for Open RAN. The U.S. telecom company's spending could approach roughly $14 billion over the five-year term of the contract with that one vendor, the company said.

Persons: Rick Wilking, Supantha Mukherjee, Matthew Lewis Organizations: Golden , Colorado United, REUTERS, Rights, Open RAN, Ericsson, Nokia, Thomson Locations: Golden ,, Golden , Colorado United States, ORAN, United States, U.S, Stockholm

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