Does Ericsson still exist?
No, Ericsson no longer manufactures mobile phones under its own name. The company's mobile phone business underwent a significant transformation in 2001 when it formed a joint venture with Sony, known as Sony Ericsson. This partnership was later dissolved in 2012 when Sony acquired Ericsson's remaining 50% stake, resulting in the creation of Sony Mobile Communications. Today, Ericsson has completely divested from the consumer mobile handset business to focus entirely on its core competency: professional telecommunications equipment, network infrastructure, and enterprise software services. While you may still see vintage Ericsson-branded handsets on the secondary market or in collections, the company itself does not develop or sell modern smartphones, focusing its resources on the wireless infrastructure that enables phones from other brands to function globally.
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Ericsson is widely recognized as a major global employer with a strong international presence and a structured, professional corporate culture.
Ericsson has faced a challenging period in 2026, primarily driven by a sharp decline in North American sales and broader macroeconomic headwinds. In the first quarter of 2026, the company reported a 10% year-over-year revenue decline to $5.
Yes, Ericsson has implemented significant workforce reductions in 2026.
Yes, Ericsson has executed a major round of layoffs in 2026, specifically targeting its operations in Sweden.
Ericsson's profitability in 2026 has been under pressure due to the aforementioned market challenges. In the first quarter, the company's adjusted EBITA fell 20% year-over-year to $610 million, with a margin of 11.3%.