Ericsson has announced a new corporate purpose and vision to be more relevant in a new world in which it believes there will be limitless connectivity.
At the heart of this pivot is what the company describes as the “seismic” technology shift that it believes is under way around the world, forecasting 3.5 billion 5G subscriptions and 60% global 5G population coverage by 2026. Ericsson sees this shift as the driver of unleashing an entirely new wave of innovation to address some of the planet’s most pressing issues – and it is responding to the current and future global scale of mobile connectivity that has meant a new corporate purpose and vision.
The company stresses that a prerequisite for all future scenarios is a reliable, secure and high-quality mobile network infrastructure. It believes 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.
To capture the emerging opportunities, Ericsson said it would have a purpose to create connections that “make the unimaginable possible”, working to a vision of a world in which limitless connectivity improves lives, redefines business and pioneers a sustainable future.
Ericsson said it could use technology to reduce risk and time to market while creating huge efficiencies and opportunities across the value chain. It believes entire business models can be transformed by limitless connectivity using real-time data that feeds instantly into design and manufacturing processes.
The company said connecting billions of people has delivered countless social and economic benefits. It noted that its research had shown that by 2030, digital technologies can reduce greenhouse gas emissions across industries by 15%. It was also confident that by using technologies such as 5G, artificial intelligence and the internet of things to drive decarbonisation, it could meet international targets and help limit global warming to 1.5 degrees above pre-industrial levels.
“For almost 150 years, our technology has transformed nearly every sector of society,” said Börje Ekholm, president and CEO of Ericsson. “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.
“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.”
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