Having expressed his dissatisfaction with the current position of the company, Ericsson's CEO, Hans Vestberg, said that he planned to move into new markets and outstrip growth in its traditional areas.
Speaking at the company's Capital Markets Day in Stockholm, Vestberg said that Ericsson had identified new markets to address with its telecoms services. According to the CEO, one area in which the company was well positioned was in the burgeoning M2M sector where it had gained an early stage understanding of the technology and services needed to connect the widening range of devices.
"The capabilities we have in place today enable us to address customers beyond traditional telecoms operators such as cable and TV companies, governments, healthcare, transport and utilities. These are industries where there is a huge need for telecoms services," he said.
However, Vestberg admitted that the exploding number of connections might not lead to a similarly rapid increase in revenue for Ericsson, as some of the expected connections - such as fridges sending only sporadic signals about maintenance needs - would not create much traffic or network capacity needs.
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