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April 24, 2014
06:02 EDTERICEricsson announces division of business unit networks into two units
Ericsson announced the establishment of two new business units in a move to accelerate transformation and support growth. The company will split current business unit Networks into two new units, business unit Radio and business unit Cloud & IP. The change in organization will enable more focus on the needs of each business while maintaining an end-to-end view on the full networks operations. New business unit Radio will build on industry's most competitive radio portfolio to leverage leading position. New business unit Cloud & IP to capture opportunities with virtualization for the IP and core portfolio based on number one position in telecom core networks. The two new organizations are estimated to be effective on July 1, with the BU Management team and organizational structure in place. Complete transformation is expected to be finalized during Q3. For 2014 there will be no change in financial disclosures.
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