Boston, MA 08/05/2014 (wallstreetpr) – Ericsson (ADR) (NASDAQ:ERIC), an information communication technology solutions provider that boasts more than $42 billion in market cap, will continue to provide network field maintenance for Vodafone Egypt for another three years. The company announced an extension of their partnership having enjoyed the period that they have already been in collaboration.
The managed services agreement will help Vodafone to improve its network quality in and around the greater Cairo area. Furthermore, Ericsson (ADR) (NASDAQ:ERIC) said that Vodafone Egypt will enjoy improved operational efficiency through the new agreement. The company expects to leverage its innovative edge to deliver the promise.
So far so good
According to the chief technology officer at Vodafone Egypt, Osama Said, Ericson has proven itself to be a steadfast partner for the years that they have been in a partnership arrangement. As such, he said the extension of the partnership means that they at Vodafone Egypt will achieve best-in-class network quality so that they can best serve their customers.
Ericsson (ADR) (NASDAQ:ERIC) stands out as an interesting partner for managed services. The company has more than 300 such contracts in more than 100 countries, and they continue to add more clients. According to the company’s head of the Middle East region, their innovative technologies will go into not only ensuring network availability for Vodafone Egypt’s customers but also deliver quality connectivity.
Race to network improvement
As network demand increases thanks to more customers on Smartphone and other mobile devices that connect to the network, telecom companies are aggressively seeking to enhance their network availably. As such, Ericsson (ADR) (NASDAQ:ERIC)’s track record in delivering such solutions positions it well to take advantage of the opportunities.
In its 2Q2014, Ericsson (ADR) (NASDAQ:ERIC) posted earnings and revenue that outpaced the estimates. It generated revenue of 54.8 billion Swedish kronor, beating the estimate of 52.5 billion kronor. Net profit for the quarter also rose to 2.58 billion kronor, ahead of 1.47 billion kronor in the like quarter last year.
