The Swedish telecom gear maker Erickson will raise $370 million for R&D on 5G. It has signed agreements for credit facilities with the Nordic Investment Bank (NIB) for $220 million, maturing in 2023, and AB Svensk Exportkredit (SEK) for $150 million, maturing in 2025. Of these new funds, 98 million will replace credit with NIB that was set to mature in 2019.
As telecom sector is gearing up for 5G, IoT and related technologies, tech companies are investing huge money in research to provide superior mobile broadband and communication services.
According to Erik Ekudden, Ericsson Chief Technology Officer, "As part of our focused strategy we are increasing our investments to secure technology leadership in 5G, IoT and digital services. Already now we have 38 operators engaged with us on developing and preparing for 5G networks. This is more than any other company. In the coming years, we will see 5G networks going live around the world, with major deployments from 2020 and we believe that there will be one billion 5G subscriptions by the end of 2023. The technologies that we are investing in are fundamentally changing the way we innovate, collaborate, produce, live and do business."
According to Erik Ekudden, Ericsson Chief Technology Officer, "As part of our focused strategy we are increasing our investments to secure technology leadership in 5G, IoT and digital services. Already now we have 38 operators engaged with us on developing and preparing for 5G networks. This is more than any other company. In the coming years, we will see 5G networks going live around the world, with major deployments from 2020 and we believe that there will be one billion 5G subscriptions by the end of 2023. The technologies that we are investing in are fundamentally changing the way we innovate, collaborate, produce, live and do business."
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