Telefonaktiebolaget LM Ericsson (publ) (ERIC) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

October 20, 2022 3:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Peter Nyquist

Good morning everyone and welcome to today's presentation covering the Third Quarter in 2022. With me here today I have Ericsson's CEO, Börje Ekholm and our CFO, Carl Mellander. As usual we will end the presentation with a Q&A session and in order to ask questions you will need to join the conference by phone. Detail can be found in today's press release as well as on the website, ericsson.com/investors. Please also be advised that today's conference is being recorded.

But before handing over to Börje Ekholm, I would like to say the following. During today's presentation, we will be making forward-looking statements. These statements are based on our current expectation and certain planning assumptions which are subject to risks and uncertainties. The actual results may differ materially due to factors mentioned in today's press release and discussed in this conference call. We encourage you to read about these risks and uncertainties in our earnings release this morning as well as in our annual report.

With that said, I would like to hand over the word to Börje. Please, Börje?

Börje Ekholm

Thank you, Peter. Good morning everyone and thank you all for joining us. I'm pleased to present another quarter with solid underlying performance, and we continue to see robust performance in our business as well as market momentum. Since 2017, we've been able to increase our RAN market share from about to 33%, up to 39% if we exclude Mainland China.

We've taken market share from all competitors, including our European, and we have continued to add to our global footprint during the past quarter. So we're really talking about here of some massive gains in overall footprint for Ericsson. These achievements are really based on our focus on technology leadership, and I would say technology leadership allows us to offer our customers leading technologies and highly competitive solutions. Equally important is that it allows us to do product substitutions to manage our margins.

In the quarter we also took a key step in our enterprise ambition by closing the acquisition of Vonage. It's really an exciting step for Ericsson, as Vonage will be a critical building block in our enterprise strategy, and it will underpin a full range of cloud communication solutions. We aim to transform the way advanced 5G capabilities such as speed, latency and network slicing are exposed, consumed, and paid for, and we believe this will ultimately help our customers to monetize their network.