|Bid||5.98 x 200|
|Ask||6.14 x 500|
|Day's Range||5.99 - 6.11|
|52 Week Range||4.83 - 7.55|
|PE Ratio (TTM)||-14.89|
|Dividend & Yield||0.11 (1.82%)|
|1y Target Est||N/A|
Ericsson said it has launched legal proceedings against smartphone maker Wiko, alleging infringement of patents essential for 2G, 3G and 4G cellular technology, as well as implementation patents.
Swedish mobile infrastructure firm Ericsson is suing French-Chinese smartphone maker Wiko in two German regional courts over patent infringements, it said on Thursday. Ericsson said Wiko had infringed its rights for several years without any licence or compensation, despite negotiations since 2013. Wiko, which has its head office in France but is majority-owned by Chinese technology group Tinno Mobile, was not immediately available for comment.
Mobile telecom gear maker Ericsson may lay off around 25,000 employees outside Sweden as part of its savings program, Swedish daily Svenska Dagbladet reported on Thursday, citing unidentified sources at the company. Ericsson said in July it would accelerate measures to meet a target of doubling its 2016 underlying operating margin of 6 percent and that it aimed to reach an annual cost reduction run rate of at least 10 billion crowns ($1.2 billion) by mid-2018. Ericsson has said actions will be taken primarily in service delivery and common costs while research and development would be largely unaffected.