Ericsson (Eric – Swedish telecommunications equipment giant Sveriges Telecommunications (Free Report) recently welcomed the joint statement as part of the latest bilateral agreement between the U.S. and Swedish governments to advance next-generation connectivity technologies. The joint effort represents a major step forward in the communications sector and demonstrates the company’s commitment to technological advancement.
The cooperation will leverage Ericsson’s deep industry expertise and the resources of both countries, aiming to develop 6G technologies that will help bridge the digital divide globally. It is expected to include a wide range of cooperation activities, including 6G research, spectrum allocation and the introduction of new technologies in existing frequency bands. The cooperation will also focus on global harmonization of 6G frequency bands, developing internationally aligned standards and fostering a comprehensive 6G ecosystem.
The new declaration builds on recent efforts such as a five-year memorandum of understanding between the U.S. National Science Foundation, Sweden’s Vinnova and the Swedish Research Council, as well as a joint 6G vision between the U.S. and the European Union to be announced in April 2024. These are expected to spur innovation in areas such as AI, 6G connectivity, ML and quantum technologies.
As the world approaches the next generation of wireless technologies, Ericsson’s involvement in this collaboration underscores the company’s leadership in 6G research and development. The company’s innovative solutions are reimagining connectivity across sectors, from improving network visibility through advanced 5G deployments to transforming industries with robust IoT innovations.
The company’s leadership in cloud and edge computing provides scalable solutions for efficient digital infrastructure across the globe, ensuring flexibility and resilience in a rapidly evolving digital environment. These advancements will play a key role in significantly shaping the future of mobile connectivity and network infrastructure.
Price performance
Ericsson shares have risen 48% over the past year, compared with 49.3% growth in the industry as a whole.
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Ericsson currently carries a Zacks Rank #3 (Hold).
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