Ericsson (ERIC - Free Report) has extended its partnership with U-Ming Marine Transport Corporation (U-MING), a major bulk cargo transportation company. The Swedish telecom equipment vendor will help U-MING streamline its fleet management system on the back of intelligent IoT connectivity solutions. The move underscores Ericsson’s efforts to capitalize on its technological prowess while promoting the evolution of its end-to-end digital solutions.
Per the deal, Taiwan-based U-MING will leverage Ericsson’s broad portfolio of project management, application development and digital transformation consulting to revamp the implementation process of Fleet Performance Management (FPM). It is worth mentioning that Ericsson’s approach to project management not only ensures successful project delivery but also remains customer-centric when it comes to providing stakeholder value in the form of business results. With holistic deployment of various projects, Ericsson provides faster time-to-market solutions and minimizes network service disruptions with better customer experience.
On the other hand, application development and modernization has always been at the core of Ericsson. Its best-in-class practices aim to eliminate complexity with open source framework methodologies and helps in reducing IT overheads by 40%. Apart from minimizing operational expenses, the application development platform uplifts technology to ensure the effectiveness of legacy applications with new digital-ready capabilities. Meanwhile, the digital transformation consulting services addresses the development and maintenance of applications with rapidly evolving technologies.
Ericsson and U-MING’s close knit relationship dates back to 2015 when the former provided end-to-end connected vessel and voyage optimization solutions to the latter. Notably, U-MING’s FPM solution will support the preventive maintenance of mission-critical equipment and foster streamlined logistics operations with intelligent IoT digital data on a near real-time basis. This, in turn, will enable the crew to enjoy the benefits of safe navigation. The solution is also equipped with an avant-garde function of automatically raising a ticket in case of speed deviations to reduce fuel wastage while encouraging fleet safety. The implementation of such technology is expected to assist U-MING to curb its carbon footprint by 40% at the end of 2030.
Meanwhile, Ericsson is witnessing healthy momentum in its business, based on the strategy to increase investments for technology leadership, including 5G. The company’s ongoing activities involve investment in R&D to safeguard a leading product portfolio and cost leadership; increase investments in automation and serviceability driving down costs; and selectively gain market share based on technology and cost competitiveness. It is much in demand among service providers to expand network coverage and upgrade networks for higher speed and capacity.
Ericsson currently has a Zacks Rank #3 (Hold). It has a long-term earnings growth expectation of 26.3%. The stock has gained 28.7% compared with industry’s growth of 13.3% in the past year.
Some better-ranked stocks in the broader industry are Motorola Solutions, Inc. (MSI - Free Report) , Qualcomm Incorporated (QCOM - Free Report) and Cambium Networks Corporation (CMBM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Motorola delivered a trailing four-quarter positive earnings surprise of 11.1%, on average.
Qualcomm delivered a trailing four-quarter positive earnings surprise of 14.3%, on average.
Cambium Networks pulled off a trailing four-quarter positive earnings surprise of 126.4%, on average.
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