Pause operations: company temporarily curtailing operations while keeping return options open

Leave Suspension

Telefonaktiebolaget LM Ericsson, commonly known as Ericsson, is a Swedish multinational networking and telecommunications company headquartered in Stockholm.

Pause operations: company temporarily curtailing operations while keeping return options open

Leave Suspension
Revenue(RF), mln.USD
42
Assets(RF), mln.USD
16
Capital(RF), mln.USD
46
Glob.Revenue, mln.USD
26837
Staff(RF), 2021
565
Taxes(RF), mln.USD
13

The new owners of the business, that has some 40 employees, come from the management of Ericsson's Russian subsidiary, the company said in a statement. Ericsson completed winding down its customer engagements in Russia by end of 2022. 400 employees in Russia left Ericsson. In 2023, Ericsson will continue having a legal entity with few employees to fulfill legal and administrative requirements. Previously had suspended deliveries to Russia while evaluating further actions. Rusklimat appealed to the intellectual property court with a request to terminate the legal protection in the country of trademarks of the telecommunications equipment manufacturer Ericsson. Market participants believe that the Russian company wants to produce or sell other equipment in the Russian Federation under the Swedish brand. This is one of the first such cases against manufacturers who left the country after the outbreak of hostilities in Ukraine, lawyers say, clarifying that Ericsson itself must prove the use of the mark.

The Company Statement
April 04, 2024

Planned exit of business in Russia and gradual wind down business activities in Russia over the coming months. Previously had suspended deliveries to Russia while evaluating further actions. Said "it is only providing software and technical support to Russian clients and has not sold any telecommunications equipment to mobile operators there since the Ukraine war started", after Swedish media reported the company had continued its exports. Early in February 2023, Maxcomm LLC declared the import of components for 20,000 base communication stations of the Swedish company Ericsson AB, which officially ceased operations in the country a year ago, to Russia. The Swedish government did not allow Ericsson to supply equipment to Russian companies. Ericsson suspended its business in Russia in April and said in August that it would leave the country in the coming months. It booked 900 million Swedish crowns ($81 million) in costs and laid off 400 employees in the country as it winds down operations. Ericsson said it only provides software and technical support to Russian customers and has not sold any telecommunications equipment to mobile operators since the start of the war in Ukraine after Swedish media reported, the company resumed exports.

December 26, 2023CIS Round-Up: Russian court refuses to issue interim anti-arbitration injunction against Ericsson but finds that it has jurisdiction over case despite arbitration clause; Yukos appeals move forward, and Ukraine announces wins in recent arbitrations
October 13, 2023Production of ICT equipment in Russia
September 27, 2023Swedish authorities have banned Ericsson from supplying equipment to Russia
September 08, 2023Chinese equipment raised questions among Russian telecom operators
May 03, 2023From here we will import a Swede: Ericsson base stations cut a window to Russia
February 10, 2023About Ericsson in Russia and Belarus
December 21, 2022Russian mobile calls, internet seen deteriorating after Nokia, Ericsson leave
December 15, 2022Telecom equipment maker Ericsson divests Russian operation
December 15, 2022Ericsson divests its local customer support business in Russia
November 11, 2022Russia's Tele2 files lawsuit against Ericsson over Russia withdrawal
September 23, 2022Ericsson says no hardware exported to Russia, only software support
September 23, 2022Ericsson says no hardware exported to Russia, only software support
August 29, 2022Ericsson, Nokia to wind down Russian operations by year end
August 11, 2022Ericsson suspends business in Russia indefinitely and records provision in Q1 2022
April 28, 2022Ericsson suspends the supply of equipment to Russia
March 11, 2022Ericsson’s Russia exit will stifle 5G rollout
Ericsson suspends all deliveries to Russia
All company names used on this web page are for identification purposes only. All trademarks and registered trademarks are the property of their respective owners.
Company statements and statistical data are collected from open sources and official registers according to the methodology of the KSE Institute.
Scanner