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Ericsson: restructures according to growth strategy

( - The Swedish telecoms network giant Ericsson today announced that it is restructuring its businesses, aiming to better align them with its growth strategy.

In a statement, the group says that it intends to create a new business unit that will regroup its activities in the "cloud", encompassing both software and services.

Another division, dedicated to enterprise wireless networks, will also be created, drawing on the expertise of Cradlepoint, its subsidiary specialising in 4G LTE and 5G edge solutions.

Following this restructuring, Ericsson will now have four main business lines: networks, cloud services and software, business services and "other" businesses, which include its media operations.

The company also plans to consolidate certain functions that are currently scattered throughout the group, such as real estate and human resources, into a single structure in order to manage them more efficiently.

All these changes, which will be effective from 1 June, will apply to financial results from Q3 this year.

However, a bit of a "so what?" from investors today, with Ericsson's shares pretty flat following these announcements.

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