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Ericsson CEO at AGM: "Transformation a necessity to capture business opportunities"

* Continued progress on Networked Society strategy with focus on market
development, growth agenda, transformation and profitability
* Driving ICT transformation with focus on 5G
* Strong commitment to sustainability and corporate responsibility with
continuous and measurable improvements in all areas

At the Annual General Meeting of shareholders, Ericsson (NASDAQ:ERIC)
president and CEO Hans Vestberg reviewed the company's stable financial
performance for 2014 and discussed its Networked Society strategy. Vestberg
talked about the change in the business mix, with 66 percent of the company's
sales for 2014 coming from services and software - and what requirements are
being placed on today's networks in order to capture all the needs from its

"Our customers need to innovate in order to grow their revenues; they need to
transform their IT systems in order to capture efficiency gains and enhance
the user experience; and they need to evolve their networks in order to meet
current and coming requirements and the introduction of new services and

"In this transforming industry we need to stay ahead of the curve and lead the
change in order to capture the opportunities that this brings for us as an
ICT partner", said Hans Vestberg

Vestberg talked about Ericsson's strategic direction in which the company is
set to excel in its core business, where it has market leader ship in mobile
infrastructure and telecom services, and to build a leading position within
target areas. The targeted areas in which the company is investing - IP
networks, cloud, OSS/BSS, TV&Media, and Industry&Society - showed good
progress during 2014 with sales growth above 10%.


Ericsson's Chief Marketing and Communications Officer, Helena Norrman, and the
Chief Technology Officer, Ulf Ewaldsson, both joined Vestberg on stage to
address the company's industry leading product portfolio and the strong
initiatives within 5G.

Norrman said: "We have strengthened our offering in order to pave the way for
the company's strategic direction, as announced at the Mobile World Congress
in Barcelona in March. We are taking the lead towards 5G with the new
Ericsson Radio System - providing increased capacity and substantially lower
energy consumption - and our new networks software release that provides
additional functionality and capacity and paves the way towards more
cloud-based functionality in the networks."

Ewaldsson said: "Our success over the years is very much dependent on our
technology leadership and last year alone, we spent SEK 36 billion on
research and development. We are passionate about developing today's network
and services to new levels to realize the Networked Society."

Ewaldsson then presented the company's 'Inventors of the year' awards,
recognizing employees who have substantially contributed to the company's
leading patent portfolio which today includes 37,000 patents. The 2014
winners were Panagiotis Saltsidis, Business Unit Cloud&IP, Daniel Larsson,
Ericsson Research, and Gunnar Mildh, Ericsson Research. The trio contributed
with 277 patent applications in 2014.


Ericsson published its 22ndSustainability and Corporate Responsibility Report,
summarizing its 2014 performance in the following areas: Responsible
Business; Energy, Environment and Climate; and Communication for All.

During 2014, Ericsson further strengthened its approach to human rights and
business, broadened its focus on occupational health and safety to be more
inclusive of supply chain activities, and enhanced portfolio and operational
efforts to reduce environmental impacts associated with energy consumption.

Elaine Weidman-Grunewald, Vice President, Sustainability and Corporate
Responsibility, Ericsson, said: "Our ambition to be a responsible and
relevant driver of positive change in the Networked Society starts with
conducting business responsibly. Each year brings new challenges and
opportunities, but sustainability and corporate responsibility have become an
integral part of our mindset and identity, and the impact we want to have on
the world."


Vestberg concluded his presentation with the following remarks:

"We aim to continue to grow faster than the market, improve operating income
by monetizing our footprint, building successes in targeted growth areas and
by efficiency improvements. The long-term fundamentals in the industry remain
attractive and the transformation journey that accelerated during 2014 will
continue throughout 2015 and beyond. Going forward, I'm convinced Ericsson
has what it takes to generate sustainable value for shareholders and
customers and continue to lead and shape the industry."


Download high-resolution photos and broadcast-quality video

Ericsson is the driving force behind the Networked Society - a world leader in
communications technology and services. Our long-term relationships with
every major telecom operator in the world allow people, business and society
to fulfill their potential and create a more sustainable future.

Our services, software and infrastructure - especially in mobility, broadband
and the cloud
- are enabling the telecom industry and other sectors to do better business,
increase efficiency, improve the user experience and capture new

With approximately 115,000 professionals and customers in 180 countries,
we combine global scale with technology and services leadership. We support
networks that connect more than 2.5 billion subscribers. Forty percent of the
world's mobile traffic is carried over Ericsson networks. And our investments
in research and development ensure that our solutions - and our customers -
stay in front.

Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales
in 2014 were SEK 228.0 billion (USD 33.1 billion). Ericsson is listed on
NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York.


Ericsson Corporate Communications
Phone: +46 10 719 69 92

Ericsson Investor Relations
Phone: +46 10 719 00 00

Ericsson CEO at AGM


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ericsson via Globenewswire


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