Financial News

Ericsson stock price soars 18% to a hit 5-month high on a major 5G deal

By: Invezz
Image for Ericsson write-down

Shares of Ericsson (STO: ERIC) soared over 18% in two consecutive trading sessions to trade at the highest levels since 2015. The Sweden-based kit vendor announced it agreed a major deal to supply SoftBank Corp. (TYO: 9984) with 5G radio access network (RAN) gear. Fundamental analysis: Ericsson continues to win 5G contracts Ericsson said it has been selected by the SoftBank Corp. to provide equipment for the Japanese giant’s Standalone Network.  “Ericsson’s dual-mode 5G Core provides SoftBank with capabilities that enable the development of new 5G use cases for mobile broadband users, as well as for enterprises and industry partners,”

The post Ericsson stock price soars 18% to a hit 5-month high on a major 5G deal appeared first on Invezz.

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