Relates to lower anticipated market growth rates at Vonage (Il Sole 24 Ore Radiocor) - Stockholm, 04 Jul - Swedish telecommunication equipment supplier Ericsson said that it will book a non-cash impairment charge of 11.4 billion crowns in the second quarter of 2024, primarily reflecting lower anticipated market growth rates in the portfolio of its US cloud communication subsidiary Vonage.

The net income impact after tax will be 11.4 billion crowns and reported in the Enterprise segment.

'Given deterioration in the market environment and elective decisions we have made to refocus our investments in strategically prioritized areas, we have reassessed certain growth assumptions, resulting in a non-cash impairment of SEK 11.4 billion," said Niklas Heuveldop, head of business area global communications platform and CEO of Vonage.

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(RADIOCOR) 04-07-24 08:01:49 (0078) 5 NNNN