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Company: Ericsson

Description: Situated in the central area of Stockholm, Sweden, Carl Johan Anderson and Lars Magnus Ericsson began operation in 1876 by fixing phone units that were imported from other countries. With its initial success in this endeavor, the company soon ventured into the production of its own telephone devices which it began marketing in 1878.

The company became a supplier of telephone units and switchboard devices to various business enterprises. Stockholms Almänna Telefonaktiebolag, Sweden’s oldest telecommunications company became the fist customer of the company in this industry. With its growing reputation in the telecommunications industry, they were soon contracted by a local importer to undertake the modification of some devices manufactured by Bell Company.

The initial telephone designs of Ericsson were based on the blueprint of Siemens telephone units. These units were preferred by newer telecommunications providers because they were cheaper compared to those produced by bigger corporations. 1879 marked the year when original Ericsson products made their market debut.

Russia and the United Kingdom were the markets tapped by the company during the early stages of its operation. These countries subsequently hosted production facilities of the company to address the market demands in these localities. Britain heavily contributed to the company’s revenues in 1897.

The bulk of the company’s revenues came from the National Telephone Company of Britain which consistently bought its apparatus from Ericsson. Part of Ericsson’s success is attributed to the growth of the telecommunication industry in Nordic countries like Sweden.

In 1918 the Allmänna Telefonaktiebolaget LM Ericsson was formed. This company was derived from the company established by Henrik Tore Cedergren, the Stockholms Allmänna Telefonaktiebolaget. In 1925 majority of Ericsson Company’s sales came from Karl Fredric Wincrantz. At that time the company was transacting under the name Telefon AB LM Ericsson.

In 1928 the company shares were differentiated as Share A and Share B. Holders of A Shares had 1,000 votes while B Share holders got 1 vote per share. More B Shares were issued by the company to the public to allow the primary owners to retain control of the company.

The main business strategy of the company to stay afloat in the telecommunications industry was to consistently introduce newer technologies. In the 1960s Ericsson became the first company to introduce the handsfree speaker telephone to the consumer market.

In May of 2000 the company participated in the Wireless Strategic Initiative. Other participants were established telecommunication industry stalwarts Siemens AG, Alcatel, and Nokia. The initiative had the purpose of standardizing all technological developments and innovations in the area of wireless communication systems.

By 2001, a strategic business agreement was entered into by the company to create the Sony Ericsson Mobile Communications AB. This new enterprise focused on the distribution of mobile phones, accessories, and Personal Computer add-on cards. Majority of the company’s products are manufactured at its factory in China. With the finalization of the agreement, Ericsson ceased the production of its own handsets.

The company is currently known as Telefonaktiebolaget L.M. Ericsson. The management team is composed of Michael Treschow (Chairman), Carl-Henric Svanberg (Chief Executive Officer and President), and Marcus Wallenberg (Deputy Chairman).

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