Ericsson demonstrates world class reinvention

On a local level Ericsson has been an important part of Ireland's domestic industrial sector seemingly forever. But as an investor, my rather more selfish regard for this company stems from its capacity during the last decade-and-a-half, to have emerged as one of the great global masters of reinvention. The lesson of modern business is that if you stand still you get buried. But Ericsson faced up to the staggering unpredictability of a truly mobile internet and adapted quickly to become market leader in network equipment with a one-third share of the world market. It operates in 180 countries worldwide, employs 115,000 including 26,000 in R & D, and has a portfolio of 37,000 patents. Some 40pc of world telecom traffic is carried on networks produced by the company, which is quoted in both Stockholm and New York.