Hans Vestberg

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The bad news keeps piling up for Ericsson. Last week the Sweden-based giant reported that it intends to cut its 16,000 Swedish workforce by 3,000 positions in production, research & development (R&D), as well as sales and administration. Yesterday the Sweden-based company gave an interim report that sales fell 14% in Q3.

On August 31, 2016, Ericsson announced the launch of its new AIR 6468 cellular radio. Ericsson stated that together with the 5G Plug-Ins announced in June, and the (already available) Radio System Baseband 5216, it now offers all the components of a 5G access network.

Ericsson‘s (NASDAQ:ERIC) Board of Directors today announced that Hans Vestberg steps down as President and CEO and member of the Board of Directors of Ericsson with immediate effect.

In a world driven by mobility, cloud, and digitisation, the networks of the future will require new design principles to ensure they are agile, autonomous, and highly secure. Ericsson and Cisco will meet this challenge together by offering end-to-end leadership across network architectures including 5G, cloud, IP, and the Internet of Things – from devices