Ericsson to book $1.1 billion impairment on weaker outlook for Vonage

Quick Summary:

:Mobile telecoms equipment maker Ericsson said on Wednesday it will record a noncash impairment charge of 11.4 billion Swedish crowns ($1.09 billion) in the second quarter of 2024, the second writedown on its acquisition of Vonage.

Heuveldop was appointed new Head of Business Area Global Communications Platform and CEO of Vonage earlier this year.

At the time of the deal, it was decided that Vonage would operate as an independent unit of Ericsson.

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Category: EconomyBusiness

Markets: Singapore

Topics: Charge Second Billion Swedish 2024 Acquisition Impairment Maker Book Vonage Ericsson

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-04 @ 04:53:43 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 257 words

Reading Time: 2 minutes read

Sentences: 11 lines

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News ID: 21474995

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