Yahoo Finance Ericsson (ERIC) to Upgrade Vital Network Infrastructure in Poland
Ericsson ERIC announced that Polska Grupa Energetyczna (PGE) group has selected its RAN (Radio Access Network) and core network solutions to deploy and upgrade its mission-critical communication infrastructure in the power sector. PGE Group, a prominent organization in the energy sector, provides electricity to more than 5 million customers in Poland. The company is aiming to deploy the LTE450 communication network and modernize its existing system.
PGE is looking to leverage Ericsson’s complete LTE Core Network solution with Virtual Evolved Packet Core and Cloud Unified Data Management, which will offer greater flexibility, reliability, reduced time to market and efficiency in operations. The agreement also includes Ericsson’s network management portfolio, which will provide monitoring, troubleshooting, configuration, automation and optimization of networks.
Ericsson's technology will play a central role in PGE's LTE450 network, establishing a durable communication ecosystem to enhance the optimal functioning of the power sector. This will enhance broadband capabilities and mobility functions, and boost automation and optimization of energy services.
Successful implementation of the LTE450 network will cover 40% area of Poland and augment reliable energy supply in remote and difficult-to-reach regions of the country. The automatic network control system will be capable of remote reading over 5 million electricity meters. This will increase the robustness of the infrastructure, foster a stable energy supply, provide fast services and ensure a superior experience for end users.
Ericsson is benefiting from solid 5G momentum worldwide. Investments in research and development (R&D) have established it as a leader in 5G. In the Mobile Networks business, it plans to capitalize on the convergence of cloud, software and services by merging Digital Services and Managed Services to form a new segment dubbed Cloud Software and Services.
With the emergence of the smartphone market and subsequent usage of mobile broadband, user demand for coverage speed and quality has increased significantly. To maintain superior performance as traffic increases, there is a need for network tuning and optimization. Ericsson solutions are much in demand among operators to expand network coverage and upgrade networks for higher speed and capacity.
The company currently has 145 live 5G networks in 63 countries. Its "cost and efficiency program" has been devised to generate higher cost savings. It is focused on structural changes that will generate lasting efficiency gains and boost cost competitiveness. Courtesy of investing in R&D combined with operational efficiency, Ericsson has the world’s leading patent portfolio in cellular technology.
The stock has lost 27.9% in the past year compared with the industry’s decline of 3.9%.
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Ericsson currently carries a Zacks Rank #3 (Hold).
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