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The company also pre-announced Q3 results, revealing a net loss of SEK30.67 billion ($2.81 billion). The substantial loss is primarily attributed to a SEK32 billion goodwill impairment in its Vonage business.
CEO Borje Ekholm provided insights into the company’s future prospects. To mitigate the losses, Ericsson plans to implement cost-cutting measures that are projected to generate SEK12 billion in run rate savings.
Despite the challenging situation, Ericsson has been a consistent player in the market, maintaining dividend payments for 19 consecutive years as per InvestingPro Tips.
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