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Swedish telecom equipment maker <keyword id="6356812" type="CITY" weightage="80" keywordseo="Ericsson">Ericsson</keyword> has appointed <keyword id="2883259" type="UNKNOWN" weightage="100" keywordseo="Paolo-Colella">Paolo Colella</keyword> as India chief with effect from September 1. 

	Colella has been responsible for Ericsson's consulting and systems integration practise globally for the past six years, reported PTI. 
 The new company chief in India would succeed <keyword id="1594358" type="UNKNOWN" weightage="80" keywordseo="Chris-Houghton">Chris Houghton</keyword> who has to assume the role as chief of North East Asia region, the news agency reported, citing a statement by the company. Ericsson said Colella will take a seat on Ericsson's global leadership team, reporting to Chairman of Region India and Senior Vice President Asia-Pacific, <keyword id="2920324" type="UNKNOWN" weightage="80" keywordseo="Mats-H-Olsson">Mats H Olsson</keyword>. 

	"Paolo takes charge from Chris at a time when Ericsson in India is well poised for growth and team... fully geared to leverage the new market opportunities and contribute to the growth of the Indian telecom sector," Ericsson President and CEO Hans Vestberg said. 
 

	Meanwhile, Colella has worked as executive VP sales and marketing at Ericsson United Kingdom. He joined Ericsson in 2001 as vice president - global services at Ericsson Italia and since then has held many positions within sales and marketing, services and key account management. 
 

	"I look forward to joining the team in India and continue the work to build strong partnerships with our customers in what is undoubtedly one of the most exciting and fast developing markets in the world," Colella said. 
	 
	(Image: Reuters)

Paolo Colella is the new Ericsson India chief

<ul><li><keyword id="6356812" type="ORGANIZATION" weightage="20" keywordseo="ericsson">Ericsson</keyword> just announced that they have been selected by Vodafone Idea Limited to deploy 5G-ready equipment across 8 circles in India. </li><li>This allows Ericsson to enhance Vodafone Idea’s networks with advanced LTE capabilities stepping closer towards their $27 billion goal. </li><li>Ericsson will also been providing network consolidation planning, design and network rollout services to help increase the efficiency of Vodafone Idea’s networks. </li></ul> Swedish telecom giant Ericsson will lay the fifth generation (5G) telecom network for India's largest mobile service provider, by number of subscribers, Vodafone Idea. The contract duration will be three years, according to Nitin Bansal, Ericsson's India managing director. The Stockholm-based company is hoping to capitalize on the $27 billion market potential from its 5G network roll outs in India. As a part of the deal, Ericsson will supply radio access and transport equipment from its 5G portfolio for Vodafone Idea in eight telecom circles in India. "Consolidation of the existing deployment base (2G/3G) will be carried out to maximise the spectrum on LTE," Ericsson said. In fact, Vodafone Idea is not the only Indian network that Ericsson that tie-ups for 5G integration. In one form or another, Ericsson has contracts will all major Indian telcos including Airtel and Jio. In October last year, Reliance Jio Infocomm and Ericsson unveiled jointly developed 5G use cases which were showcased over a live 5G network in Navi Mumbai and in Delhi. Ericsson is racing with Huawei, Nokia, Samsung, and Cisco in India as the world's second-largest telecommunications market, with over a billion active users as of October 2018, is set to the technology leap. The network trials by the Indian government are yet to begun though See also: <a href="https://www.businessinsider.in/What-is-5G-how-fast-is-it-and-when-is-it-coming/articleshow/67397568.cms">What is 5G, how fast is it, and when is it coming?</a> <a href="https://www.businessinsider.in/5g-phones-and-foldable-phones-speculated-to-take-center-stage-at-the-mobile-world-congress-2019/articleshow/68043768.cms">5G and foldable phones speculated to take center stage at the Mobile World Congress 2019</a> <a href="https://www.businessinsider.in/if-you-think-5g-is-all-about-faster-network-speeds-youre-wrong/articleshow/39066964.cms">If You Think 5G Is All About Faster Network Speeds, You're Wrong</a>

Ericsson's pact with Vodafone Idea is the next step towards a $27 billion goal

<keyword id="17403" type="ORGANIZATION" weightage="100" keywordseo="patent">Patent</keyword> wars, as it is commonly known in the technology circles around the globe, is what we have seen come to limelight after the Apple and <keyword id="10591" type="CITY" weightage="100" keywordseo="Samsung">Samsung</keyword> design saga. However, the end result to most is the same and the firms who are at loggerheads end up joining hands and sharing royalties. Going by the legal system is just another way of arm twisting to squeeze a little extra from the other side. 
 The latest to the end a patent dispute is Samsung and <keyword id="6356812" type="CITY" weightage="100" keywordseo="Ericsson">Ericsson</keyword>. Ericsson had sued the Korean mobile giant in late 2012, claiming that the company had infringed its patents. Now, Ericsson has signed a <keyword id="30336" type="ORGANIZATION" weightage="100" keywordseo="Deal">deal</keyword> with Samsung that is going to help both the businesses to gain more. This will boost Ericsson’s fourth quarter sales by $652 million. 
 On Monday, Ericsson said a deal has been signed, which includes an initial payment and <keyword id="4309" type="ENTERTAINMENT" weightage="100" keywordseo="royalty">royalty</keyword> payments from Samsung for a multi-year license agreement that would increase Ericsson's operating cash flow at the beginning of 2014. Soon after the announcement Ericsson’s shares were up by 2.7 percent in European stocks. It is always good to end a patent fight early as both the companies can grow faster. Ericsson has also sued Micromax in recent times in the Indian courts for Rs 100 crores over patent infringements.

Ericsson And
Samsung Join Hands To End Patent Dispute

<ul class="summary-list"><li>Former F1 driver Marcus Ericsson is the reigning Indianapolis 500 champion. </li><li>His new helmet for the 2023 IndyCar season honors that feat and his native Sweden.</li></ul>With sponsors often controlling how cars look in motorsports, the helmet is often the one way for a driver to express themselves, and reigning Indianapolis 500 champion Marcus Ericsson is using his to get in touch with his roots. Before the Grand Prix of Long Beach, one of IndyCar's biggest races outside of Indianapolis, Ericsson spoke to NBC Sports about all the details that went into designing his 2023 helmet.The first thing Ericsson noted was that this year's helmet is based, in large part, on the retro design that he wore during the 2022 Indianapolis 500. Considering he won the "Greatest Spectacle in Racing," that seems like a good place to start.Here is the Indy 500 helmet.<div type="image" title="Marcus Ericsson Indy 500 helmet" height="1820" width="2719" msid="99620644" hostid="261" sizebytes="168356"></div>Here is the new helmet for the 2023 season with Ericsson's No. 8 on the side.<div type="image" title="Marcus Ericsson helmet" height="845" width="1470" msid="99620646" hostid="261" sizebytes="41166"></div>Ericsson, who spent five years racing in Formula One, is in his fifth season of IndyCar and fourth with Chip Ganassi Racing.Sweden's flag inspires the helmet's blue-and-yellow color scheme.<div type="image" title="Sweden Flag" height="1667" width="2500" msid="99620649" hostid="261" sizebytes="179944"></div>He noted that the yellow stripe across the bottom of the helmet is a tribute to former Swedish F1 driver Ronnie Peterson."This stripe that goes around the helmet, it reminds me of Ronnie Peterson, a Swedish Formula One driver who was a big inspiration to me," Ericsson said. Here is a look at one of Peterson's helmets during his F1 career.<div type="image" title="Ronnie Peterson" height="2649" width="3532" msid="99620651" hostid="261" sizebytes="598174"></div>On the top of Ericsson's helmet, there are three crowns, the national symbol of Sweden.<div type="image" title="Marcus Ericsson helmet" height="693" width="1026" msid="99620653" hostid="261" sizebytes="20954"></div>In addition to honoring Sweden, Ericsson also has "Indy 500" printed on the back of the helmet, a reminder of his massive win at the Brickyard in 2022.<div type="image" title="Marcus Ericsson helmet" height="797" width="1097" msid="99620655" hostid="261" sizebytes="25230"></div>The new helmet is off to a good start. Ericsson won the season's first race in St. Petersburg, Florida, and is on top of the drivers' standings after three races. <div type="image" title="Marcus Ericsson" height="1666" width="2500" msid="99620656" hostid="261" sizebytes="181554"></div>

New helmet design for Indy 500 champ and former F1 driver Marcus Ericsson pays tribute to his native Sweden

<keyword id="6356812" type="CITY" weightage="20" keywordseo="Ericsson">Ericsson</keyword> will now manage Reliance Group’s flagship company <keyword id="46907" type="CITY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword> Limited’s wireless and wireline network pan India. The seven-year agreement signed for $1 billion is an extension of the existing agreement between Ericsson and RCom, which will now enable the Swedish communication services firm to expand its services footprint across all the 22 circles that are with RCom. 
 
“We are excited to partner with Reliance Communications for this strategic multi-technology managed services deal. We have been managing their networks in north and west and are now pleased to extend this support to all 22 Circles,” said Magnus Mandersson, executive vice-president and head of Business Unit Global Services at Ericsson. 
 
He further added, “The growing uptake in the use of new technologies requires an increased focus on customer experience management, and that will be our focus as we take on this mandate. This is the first pan-Indian managed services deal for Ericsson and will help us consolidate our managed services leadership in India”. 
 Ericsson will be responsible for streamlining the company’s wireless and wireline operations along with the maintenance, network operations and planning all of RCom’s 2G, <keyword id="17407" type="TECHNOLOGY" weightage="20" keywordseo="CDMA">CDMA</keyword> and <keyword id="6378791" type="TECHNOLOGY" weightage="20" keywordseo="3G">3G</keyword> mobile networks. 
 
“We are happy to announce our partnership with Ericsson to manage our wireline and wireless network on a pan-Indian basis. Given the complexity of networks and the growing performance expectations from customers, we are banking on the experience, innovation and technical expertise of Ericsson to improve the productivity of our network and ensure customer satisfaction and retention by delivering superior network performance and service quality at optimized costs,” Suresh Rangachar, head of Commercial, Reliance Communications. 
 
The Swedish will also help RCom identify opportunities to launch new services, which will expand its existing businesses. The agreement has been in effect since December 1, 2014. 
 
Expressing happiness over the partnership, Rangachar stated, “We are happy to announce our partnership with Ericsson to manage our wireline and wireless network on a pan-Indian basis. Given the complexity of networks and the growing performance expectations from customers, we are banking on the experience, innovation and technical expertise of Ericsson to improve the productivity of our network and ensure customer satisfaction and retention by delivering superior network performance and service quality at optimized costs.” 
 
Image: Ericsson.com

Reliance Communications Signs 7-year Agreement With Ericsson For $1 Billion

<a href="http://www.businessinsider.in/searchresult.cms?query=%E2%80%8BEricsson">Ericsson </a>is aggressively hiring more women for its core operations – a job typically reserved for males. 
 The company's India unit is set to hire around 100 woman engineers this year, double that of last year. The company has recognized <keyword id="499855" type="UNKNOWN" weightage="100" keywordseo="Gender-diversity">gender diversity</keyword> as an important component of its structure. This is expected to increase the woman count in the company to around 15%. Currently, women form around 10% of its 2,100 workforce. 
 "The woman engineers in <keyword id="330957" type="COMPANY" weightage="100" keywordseo="Ericsson-India">Ericsson India</keyword> will for the first time be involved in mainline <a href="http://www.businessinsider.in/searchresult.cms?query=consulting">consulting</a> and systems integration, 3G and 4G network rollouts, network design and optimization, besides closely working with Ericsson's managed services business teams", Sameer Khanna, its Vice President and HR head told ET. 
 
He said the company would soon employ around 20 female officers from the central armed forces to deliver field <a href="http://www.businessinsider.in/searchresult.cms?query=operations+support">operations support</a> functions, including network rollout and deployment, resource allocation and <a href="http://www.businessinsider.in/searchresult.cms?query=logistics+management">logistics management</a>. 
 
Amid the organizational transformation, "the ICT part has got bigger, the operations processes have become more evolved and systems more specialised in Ericsson, which led us to hire more woman engineers, with the requisite technical skills, to fill in diverse managerial roles, including customer facing roles, in core operations," said Khanna. 
 
"These roles are highly technical and the ladies have shown very good results, especially by developing new tools for the company in the key area of network optimisation," Khanna said. 
 
The company is also sensitizing managers across its India unit on gender diversity another company executive said. 
 
Image credit: Indiatimes

Ericsson India to hire more women

San Francisco, Swedish telecom gear maker <keyword id="6356812" type="COMPANY" weightage="20" keywordseo="ericsson">Ericsson</keyword> has accused <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword> of violating its contractual commitments by failing to adhere to <keyword id="10427922" type="UNKNOWN" weightage="20" keywordseo="various-licensing-patent-agreements">various licensing patent agreements</keyword>. In a lawsuit filed at District Court in Texas in the US, Ericsson alleged that the South Korean tech giant failed to adhere to the fair, reasonable, and non-discriminatory (FRAND) terms and conditions. Samsung's FRAND commitment is a contract between Samsung and <keyword id="1296450" type="COMPANY" weightage="20" keywordseo="European-Telecommunications-Standards-Institute">European Telecommunications Standards Institute</keyword>, Ericsson claimed in the complaint. "The application of the FRAND commitment in this instance is in relation to various global cross-licences that cover both parties' patents for 2G, 3G, 4G, and 5G cellular standards," reports ZDNet. "Samsung's breach has caused Ericsson to suffer actual damages, such as Ericsson's costs and expenses in pursuing futile negotiations with Samsung in an amount to be determined at trial. In addition, Ericsson is further entitled to obtain specific performance under French law," the lawsuit read. Samsung was yet to react on the Ericsson lawsuit. The Swedish company said it is seeking to attain a declaration that it has complied with its FRAND commitment, and that Samsung has not. With several of the licensing deals set to expire next year and negotiations still ongoing, Ericsson said the payment of IP royalties may be delayed. "In the event of delayed royalty payments and the potential costs of litigation, Ericsson predicted its operating income could decline by SEK 1-1.5 billion per quarter from 2021 onwards". Samsung is currently one of the leading 5G players in the world. <keyword id="135365" type="COMPANY" weightage="20" keywordseo="Samsung-Electronics">Samsung Electronics</keyword> dominated the 5G smartphone market in western Europe in the first half of the year. According to market researcherï¿½Strategy Analytics, Samsung captured an 88% market share of all 5G smartphones shipped in Western Europe in the first six months of the year. "Samsung today is the clear 5G leader across Western Europe, due to a strong portfolio of premium Android models, such as the Galaxy S20 5G and A90 5G," said Ken Hyers, a director at Strategy Analytics. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-future-retail-power-grid-cipla-delta-corp-yes-bank-adani-power-and-others/articleshow/79713824.cms">Top stocks to watch — Future Retail, Power Grid, Cipla, Delta Corp, Yes Bank, Adani Power and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/best-smartphones-of-2020-in-india/slidelist/79675101.cms">Best smartphones of 2020 in India</a> <a href="https://www.businessinsider.in/india/news/reports-suggest-that-tata-adani-and-hinduja-group-are-interested-in-air-india-divestment-plan/articleshow/79675955.cms">Last date for Air India divestment plan nears — reports suggest that Tata, Adani and Hinduja Group are interested</a>

Ericsson accuses Samsung of violating its contractual commitments on 5G patents

<ul><li><keyword id="6356812" type="ORGANIZATION" weightage="20" keywordseo="ericsson">Ericsson</keyword>, which already has almost 20,000 employees working out of India, is looking to hire for roles in Artificial Intelligence, automation and more. </li><li>In an interview with Business Insider, Priyanka Anand, VP and Head of Human Resources for Southeast Asia, Oceania and India, Ericsson, shares the company’s hiring plans.</li><li>The company is also focussed on upskilling its employees.</li></ul>Telecommunications giant Ericsson is gearing up for the 5G era and is now set to bolster its in-house talent. Ericsson, which already has almost 20,000 employees working out of India, is looking to hire for leadership roles in Artificial Intelligence, automation and more. In an interview with Business Insider, Priyanka Anand, VP and Head of Human Resources for Southeast Asia, Oceania, and India, Ericsson, shares the company’s hiring plans and how they are upskilling current employees to take on bigger roles. Hiring in full force Ericsson has pegged that the<a href="https://telecom.economictimes.indiatimes.com/news/telcos-5g-revenue-to-reach-3-7-trillion-overall-5g-market-at-31-trillion-by-2030-ericsson/79261136"> 5G consumer market</a> will be worth $31 trillion by 2030 globally, and the company is gearing up to cash in on this massive opportunity. Anand revealed that with technologies like Artificial Intelligence, Machine Learning, and 5G growing rapidly for ICT players like Ericsson, the company is on the hunt for candidates to fill various leadership positions. “With the rapid technological advancements in the telecom sector and increased focus on AI/Automation, we continue to hire for business-critical roles for further consolidating Ericsson’s leadership position. It is evident that there will be a surge in demand for jobs like data analysts, data scientists and AI professionals across the world,” she said. Currently, their website shows over 150 job openings in India. Ericsson’s employee strength has been on an upward graph in the past three quarters <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quarter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee strength in Southeast Asia, Oceania, and India region </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25,633 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">June 20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25,265 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24,942 </td></tr></tbody></table> Ericsson’s hiring strategy – upskill employees and hire new talent The company is driving its employee growth through a two-fold strategy – upskilling and reskilling its own employees as well as hiring new talent. And of course, with the pandemic and the work from home situation, all hirings and training have gone virtual. “We have switched to virtual classroom training for some of the earlier F2F training as well as encourage our employees to undergo training on our already existing online learning platforms like Degreed etc,” said Anand. Ericsson has also partnered with INSEAD, one of the world’s leading business schools,for upskilling its employees to design an Executive Development program for senior leaders. The company has also partnered with Harvard Business Publishing, a not-for-profit wholly-owned subsidiary of Harvard University, to offer leadership development modules that look into the challenges faced by business leaders and how to address the same. “We also developed a Career Program for our employees focusing on technical upskilling. This program aims to help employees with career planning, goal setting and acquiring relevant skill sets,” shared Anand. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/hdfc-bank-share-price-in-the-red-after-the-breaking-8-lakh-crore-market-cap-this-morning/articleshow/79405183.cms">India's largest private sector bank is now bigger than the likes of Lockheed Martin, HSBC or BlackRock</a> <a href="https://www.businessinsider.in/business/startups/news/uber-drivers-in-india-will-now-be-able-to-cash-out-their-earnings-any-day-of-the-week/articleshow/79404799.cms">Uber drivers in India will now be able to cash-out their earnings any day of the week</a>

Ericsson India is hiring for leadership roles in Artificial Intelligence, data analysts and more as it prepares for the 5G era

Swedish Prime Minister <keyword id="3242462" type="UNKNOWN" weightage="20" keywordseo="Stefan-Lfven">Stefan Löfven</keyword> concluded his two-day visit to India in Pune, he toured the facilities of <keyword id="194619" type="CITY" weightage="20" keywordseo="Tetra-Pak">Tetra Pak</keyword> and <keyword id="6356812" type="CITY" weightage="20" keywordseo="Ericsson">Ericsson</keyword>, two leading Swedish companies in India. 
 
The Prime Minister unveiled commemorative plaques and planted a symbolic sapling. This visit emphasizes the continued importance of Pune as one of the major investment and industrial hubs for Swedish companies in India. 
 “Prime Minister Löfven was very happy to be in Pune, a city that has a long history of deep economic ties with Sweden. After having witnessed the scale and magnitude of the Make in India Week in Mumbai and a significant bilateral dialogue with PM Modi and other ministers from the Indian side, this visit to Swedish manufacturing facilities is a befitting close to his India tour. In Pune he sees the reality of how Sweden makes in India,” said Mr <keyword id="1441970" type="PERSON" weightage="20" keywordseo="Harald-Sandberg">Harald Sandberg</keyword>, Ambassador of Sweden to India. 
 
Upon his arrival Mr Löfven visited Ericsson’s upcoming facility at Chakan. Being set up with an initial investment of $15 million, Ericsson’s Chakan plant will serve as an export hub for the Company’s exports to South East Asia, West Asia and Sub Saharan Africa regions. The Company plan to manufacture current and future products for 2G, 3G and 4G technologies at this Plant including radio and microwave products. 
 
“2016 is a milestone year for Ericsson in India as we strengthen our commitment to ‘Make in India’ by setting up our second manufacturing facility here at Chakan. The setting up of this hi-tech, export oriented manufacturing facility will generate employment as well as lead to the development of the vendor eco system in and around Pune. We are delighted and honored to have had the proud privilege of welcoming the Hon’ble Prime Minister, Mr Stefan Löfven to our facility.” said Mr Paolo Colella, Head of Region India, Ericsson. 
 Swedish companies’ operations in Pune date back to 1957, when a large area of land was allocated to those firms in that city, which was strategically a good location considering the proximity to Mumbai. In the 1960-70s Pune became an important industrial hub, where a second wave of Swedish companies like Alfa Laval, Tetra Pak, Sandvik and <keyword id="113732" type="COMPANY" weightage="20" keywordseo="Atlas-Copco">Atlas Copco</keyword> were established. 
 
On his Pune trip, Prime Minister Löfven was accompanied by Ambassador of Sweden to India, Mr Harald Sandberg and Ms Fredrika Ornbrant, Swedish Consul General for Maharashtra, Gujarat and Goa.

Swedish majors Ericsson and Tetra Pak showcase how #SwedenMakesinIndia

<ul><li><keyword id="46907" type="CITY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword> has sent a notice to <keyword id="6356812" type="ORGANIZATION" weightage="20" keywordseo="ericsson">Ericsson</keyword> asking the company to return ₹580 crores that the former had paid.</li><li>In May 2019, Reliance Communications had moved to the National Company Law Tribunal to file bankruptcy. </li><li><keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>’s brother <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> had bailed him out by paying Ericsson the amount in March.</li></ul>Bankrupt Reliance Communications’ lenders might be <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/reliance-communications-lenders-to-seek-rs-580-crore-from-ericsson-claiming-violation-of-ibc/articleshow/70338401.cms?UTM_Source=Google_Newsstand&amp;UTM_Campaign=RSS_Feed&amp;UTM_Medium=Referral">sending a notice</a> to Ericsson asking it to pay back ₹580 crores, which it had paid under Supreme Court’s order. According to sources, the payment made to Ericsson comes under ‘preferential transaction’ under the Insolvency and Bankruptcy Code. And, that Ericsson is liable to pay it back. A preferential transaction is where one creditor receives payments ahead of others. During bankruptcy proceedings, the process assigns a rank to each creditor and decides how much and when it would pay each of them. These creditors include banks and other lenders, in addition to vendors and others that RCom has to pay back. If Ericsson does to agree to pay it back, the lenders might also taking the legal route to force it. In May 2019, Reliance Communications had moved to the National Company Law Tribunal to file for bankruptcy. It had saddled a total <keyword id="44647" type="ORGANIZATION" weightage="20" keywordseo="debt">debt</keyword> of ₹46,000 crore, and had been trying to sell assets to pay off some of it. In February, the Supreme Court directed Anil Ambani-owned Reliance Communications to pay Ericsson the dues it owed. It had also said that Ambani would go to jail unless the company clears its dues. At this juncture, Anil’s elder brother and billionaire Mukesh Ambani had bailed him out, just in the nick of time.

RCom’s lenders will ask Ericsson to pay back ₹580 crore, says report

Swedish telecommunication giant <keyword id="6356812" type="ORGANIZATION" weightage="20" keywordseo="ericsson">Ericsson</keyword> has acquired <keyword id="9959082" type="COMPANY" weightage="20" keywordseo="cradlepoint">Cradlepoint</keyword>, the US-based market leader in Wireless Edge WAN 4G and <keyword id="764355" type="PERSON" weightage="20" keywordseo="5G">5G</keyword> Enterprise solutions, for $1.1 billion. The combined offering will create valuable new revenue streams for customers by supporting full 5G-enabled services for enterprise, and boost returns on investments in the network. The investment is key to Ericsson's ongoing strategy of capturing market share in the rapidly expanding 5G Enterprise space, the company said in a statement. "The acquisition of Cradlepoint complements our existing offerings and is key to our strategy of helping customers grow the value of their 5G network investments. Ericsson is uniquely positioned to build on Cradlepoint's leadership position in Wireless Edge and the wireless WAN market," said Borje Ekholm, President and CEO Ericsson. The transaction is expected to close before the end of Q4 2020, subject to closing conditions. Wireless wide area network (wireless WAN) Edge solutions connect through 4G and 5G to deliver fast, secure, and flexible connectivity wherever and whenever it is needed for businesses, mobility and critical frontline emergency services. Cradlepoint is strongly positioned in a market with underlying growth of 25-30 per cent. "We have led the way in bringing the power of cellular networks and technologies to enterprise and public sector customers – helping them connect beyond the limits of traditional wired WANs. Ericsson with its global 5G leadership is a great match for us," said George Mulhern, CEO and Chairman, Cradlepoint. Founded in 2006, Cradlepoint has more than 650 employees, providing wireless WAN solutions that deliver enterprise-grade connectivity. In addition to the company headquarters in Boise, Idaho, the company operates a research and development center in Silicon Valley, California, and new market offices in the United Kingdom and Australia. With the acquisition, Cradlepoint will become a fully-owned subsidiary of Ericsson while continuing to operate under its existing brand.

Ericsson's latest 5G bet - acquires enterprise connectivity provider Cradlepoint for $1.1 billion

<ul><li>Insolvency proceedings could be revived, according to an Indian insolvency court</li><li>Recently in March, RCom sought to withdraw an earlier plea asking for an unconditional stay </li><li><keyword id="6356812" type="COMPANY" weightage="20" keywordseo="ericsson">Ericsson</keyword> may be required to pay $80 million plus interest</li></ul>Less than a month after <keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>’s telco <keyword id="46907" type="DOMAIN" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword> was bailed out by brother <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> by settling $80 million in dues against Ericsson, an Indian court has hinted it may ask the latter to return that entire settlement amount plus interest should bankruptcy proceedings restart against RCom. Hearing the RCom-Ericsson case, a judicial bench at the National Company Law Appellate Tribunal (NCLAT), reportedly said that all other creditors would have to be compensated as well if insolvency proceedings are revived. “Why should one party take the amount and other creditors suffer and why should banks suffer? Why should the Indian economy suffer?” Financial Express <a href="https://www.financialexpress.com/industry/ericsson-may-have-to-refund-rs-578-crore-to-rcom-heres-why/1542261/">reported</a> citing Justice SJ Mukhopadhaya. Last year, it was Ericsson that moved the <keyword id="6354457" type="ORGANIZATION" weightage="20" keywordseo="National-Company-Law-Tribunal">National Company Law Tribunal</keyword>’s Mumbai bench, an insolvency court, in an attempt to recover dues. However, a conditional stay was granted to RCom by the court, followed by Supreme Court’s February order against Anil Ambani to settle dues or face possible jail time on contempt of court charges. However, recently in March, RCom sought to withdraw that plea, which could potentially revive insolvency proceedings against itself, which would in turn bring Ericsson back to the drawing board. “We may either quash RCom bankruptcy proceedings in the NCLT or allow bankruptcy case to proceed,” the NCLAT bench, which will further hear the matter on April 30, reportedly said.

Ericsson may have to repay its entire settlement with interest if Anil Ambani’s company is sent for liquidation

New Delhi [India], July 19 (ANI): <keyword id="19899016" type="General" weightage="100" keywordseo="Vodafone-Idea" source="keywords" meta.keywordsubtype="org" meta.entityname="Vodafone Idea" meta.hostid="261" meta.entityid="Vodafone Idea">Vodafone Idea</keyword> approved the allotment of more than <keyword id="22467816" type="General" weightage="20" keywordseo="40-crore-shares" source="Orion">40 crore shares</keyword> on a preferential basis to <keyword id="6354716" type="General" weightage="20" keywordseo="Nokia" source="Orion">Nokia</keyword> Solutions and Networks India and to <keyword id="330957" type="General" weightage="20" keywordseo="Ericsson-India" source="Orion">Ericsson India</keyword>, the company informed the exchange in a filing. The company stated that this preferential allotment is in accordance with SEBI's regulations which totals around <keyword id="22467815" type="General" weightage="20" keywordseo="Rs-615-crore" source="keywords">Rs 615 crore</keyword> and represents a strategic move to enhance the company's capital base. According to the statement by the company, the breakdown includes around 25 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> to Nokia Solutions and Networks India Pvt. and over 15 crore equity shares to Ericsson India Pvt. The issue price per equity share was set at Rs. 14.80, including a premium of Rs. 4.80 per share at a face value of Rs 10 per share. "The Capital Raising Committee of the Board ("Capital Raising Committee") has, at its meeting, approved the second tranche of allotment of 41,52,02,701 Equity Shares of face value of Rs. 10/- each at an issue price of Rs. 14.80 per equity share (including a premium of Rs. 4.80 per equity share), to Nokia Solutions and Networks India Private Limited (25,67,56,756 Equity Shares) and Ericsson India Private Limited (15,84,45,945 Equity Shares), aggregating to Rs. 614.5 crores, on a preferential basis" said the company. Recently, Vodafone Idea (<keyword id="634808" type="General" weightage="20" keywordseo="VIL" source="Orion">VIL</keyword>) added 0.8 million mobile broadband (MBB) subscribers in May, but the company continued to see declines in both overall and active subscriber bases, losing 0.9 million and 1.7 million subscribers, respectively. The shares of Vodafone Idea closed at Rs 16.32 after a decline of more than 2 per cent on Thursday.

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