Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) being one of the oldest mobile device manufacture has recently announced is wishes as well as the will to start trials on new communication and internet service access. For more than ten years, the company has been experiencing stiff competitions from other manufacturers of mobile handsets such as Samsung and Oppo Mobiles. With such a competition, the firm has been forced to seek collaborations as well as funding from different companies such as SoftBank.
Dealing with Stiff Competition
The stiff competitions came up as a result of other companies in the same line of production seeking funding from banks with the aim of expanding the operation. Taking the example of companies such as Samsung, it is clear its success has been accrued from developing new product models which are characterized by high levels of capabilities. With such a move, the later has managed to remain on top of the list even regardless of stiff competitions from other companies.
Advanced Survival Strategy
Ericsson enjoyed its dominance during the late 90s but this has since been a memory because other companies have shown the might in utilizing technological advancements. To keep up with the dynamic world, the company has adopted a more refined strategy where it links itself with a bank. The main benefit of being linked to such a financial institution is that it promoted sustainability through long term funding.
Being listed as one of the organization trading its stocks through NASDAQ stocks, Ericsson Company has been seen to lose grip of the world markets shares over the years. However, with the recent collaboration with SoftBank, its market share has been slowly reviving. Its traded shares have become a major source of its revenue. Since January, 2017, the company has recorded various gains as far as is stock markets are concerned.
Long Term Business Survival
Even with the fact that it has been struggling to survive, Ericsson has continued to perform its operations amid stiff competitions from new and old firms all over the world. Ericsson is a telecommunication firm; which has set a legendary record of its own since its first venture on manufacture and sales of mobile telecommunication devices.