Ericsson’s new purpose and vision imagines the possibilities of limitless connectivity
A seismic technology shift is underway around the world, with Ericsson (NASDAQ: ERIC) forecasting 3.5 billion 5G subscriptions and 60 percent global population coverage by 2026. The scale of this technology shift is going to unleash an entirely new wave of innovation to address some of the planet’s most pressing issues.
To capture the emerging opportunities, Ericsson today launches its new purpose and vision.
Our purpose: To create connections that make the unimaginable possible
Our vision: A world where limitless connectivity improves lives, redefines business and pioneers a sustainable future
Börje Ekholm, President and CEO, Ericsson, says: “For almost 150 years our technology has transformed nearly every sector of society. The networks we build have already connected billions of people and soon they will connect almost anything and everything. This era of hyper connectivity is going to help to address major global challenges like climate change and digital inclusion.”
Ekholm continues: “Our new purpose and vision is anchored in the company’s values of respect, professionalism, perseverance and integrity. We remain steadfast in our efforts to foster a culture of integrity by embedding our values into all ways of working. This important work continues, and we are committed to creating greater accountability, trust and respect with our people, customers and stakeholders, while ensuring sustainable success for the company in the future.”
A positive force in society
Connecting billions of people has delivered countless social and economic benefits. Ericsson’s research, for example, shows that by 2030 digital technologies can reduce greenhouse gas emissions across industries by 15%.
Looking ahead, Ericsson’s vision imagines a world wherelimitless connectivity improves lives, redefines business and pioneers a sustainable future.
“Our vision imagines the future we can help to create for people, business, and the planet,” says Stella Medlicott, SVP and Head of Group Function Marketing and Corporate Relations, Ericsson. “Connectivity is key to reducing human impact on the planet and will help bridge the digital divide, but we also see the potential for our technology to touch even more parts of society. This is where things really get interesting.”
As part of this, Ericsson is today launching a new look and feel for its brand as well as a series of future scenarios it believes will emerge in an era of hyper connectivity:
Enabling new ways of learning – by connecting every learning establishment and every learner. Future workforces will be increasingly more dependent on digital technologies for life-long learning and upskilling while mobile networks will deliver quality education to every school regardless of location.
Redefining business – by reducing risk and time-to market while creating huge efficiencies and opportunities across the value chain. Entire business models will be transformed by limitless connectivity using real-time data that feeds instantly into design and manufacturing processes.
Reimagining entertainment – through an internet of senses that blends virtual and real worlds together. Imagine live game data superimposed in front of your eyes or the ability to experience the sound, touch and smell of live game action – from the comfort of your sofa.
Tackling the climate crisis – by using technologies such as 5G, AI and IoT to drive decarbonization, meet international targets and help limit global warming to 1.5 degrees above pre-industrial levels.
A prerequisite for all of these scenarios remains reliable, secure, and high-quality mobile network infrastructure. The 5G platform that is currently being rolled out around the world is a fundamental, first step in helping to build this future digital society.
In 2020, Ericsson successfully completed its financial turnaround, delivered on its financial targets and established a leadership position in 5G. Since then, the company has reinforced its focused business strategy with added growth ambitions, both in the core business segments and the emerging enterprise space. The company’s vision underpins this strategic journey and reinforces Ericsson’s position as technology leader.
