Marconi name to live on in expanded Ericsson product portfolio
Ericsson (NASDAQ: ERICY) has announced it will continue to use the Marconi name in the recently acquired product portfolio.
Ericsson says it will continue to use the Marconi name in recognition of the company's strong reputation and of the significant brand value the name carries.
In addition to using the name for product lines, the Marconi name will also be used at two legal entities in Italy. They will be named "Marconi - part of the Ericsson group."
Sivert Bergman, senior vice president and general manager, Business Unit Transmission and Transport Networks, and overall responsible for the Marconi integration, says: "The integration of the two companies' product ranges is already well under way. Marconi has widely recognized strengths, particularly in optical transport and wireline, and we are proud to be able to carry this heritage forward in our strengthened product portfolio."
On January 23, 2006, Ericsson completed the acquisition of strategic parts of Marconi's telecommunications business that are strategically important to Ericsson and took on about 6,660 Marconi employees.
Ericsson is leading the build-out of mobile broadband and is now strengthening its position in wireline networks. As mobile and fixed broadband access grows quickly throughout the world, the upgrade of broadband will lead to a massive increase in data traffic. As a consequence, transmission capacity in telecom networks will have to be dramatically increased. The acquisition strengthens Ericsson's position in the accelerating transmission segment, where it is a clear market leader. The combined portfolio increases Ericsson's market share globally in fixed broadband access to number two in Europe and number three worldwide.
Ericsson is shaping the future of Mobile and Broadband Internet communications through its continuous technology leadership. Providing innovative solutions in more than 140 countries, Ericsson is helping to create the most powerful communication companies in the world.
Ericsson is a world leader in communications technology and services with headquarters in Stockholm, Sweden. Our organization consists of more than 111,000 experts who provide customers in 180 countries with innovative solutions and services. Together we are building a more connected future where anyone and any industry is empowered to reach their full potential. Net sales in 2016 were SEK 222.6 billion (USD 24.5 billion). The Ericsson stock is listed on Nasdaq Stockholm and on NASDAQ in New York. Read more on www.ericsson.com.