Ericsson CEO Hans Vestberg said he plans to move the vendor into new markets and outstrip growth in its traditional areas.
Speaking at the company's Capital Markets Day in Stockholm, Vestberg said Ericsson had identified new markets to address beyond mobile infrastructure. One area Ericsson plans to capitalize on is the M2M market, he said. Operators around the world are now embarking on M2M initiatives, with companies like Verizon Wireless beginning to break out the number of connected devices they are supporting.
"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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