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Swedish mobile network gear maker Ericsson booked an impairment of 14.2 billion crowns ($1.8 billion) in the fourth quarter, related primarily to goodwill in its digital and media operations, hitting operating income but not cashflow. "The majority of goodwill originates from investments made 10 years ago or more, and has limited relevance for Ericsson's business going forward," Ericsson said in a statement. Once the world's biggest manufacturer of mobile network gear, Ericsson has been hit by competition from Huawei [HWT.UL] and Nokia , while telecom operator spending has slumped ahead of the roll-out of next-generation 5G technology.



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Published: Tue, 16 Jan 2018 22:06:33 -0500
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