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Ericsson (ERIC) Strengthens Partnership With Three Ireland

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Ericsson (ERIC - Free Report) recently announced that Three Ireland has become the first communications service provider (CSP) in the world to join its global Startup 5G initiative. The program has been designed to support CSPs to capture the consumer potential of 5G.

This takes the partnership between Ericsson and Three Ireland to a new level. The companies have been working together to research and develop compelling 5G consumer offerings.

Through Startup 5G, Ericsson intends to help service providers accelerate the commercialization of 5G by introducing them to innovation partners. It will support the development of a go-to-market strategy to address the business opportunities within the 5G consumer market.

Three Ireland will be able to take advantage of Ericsson’s ConsumerLab research and analytical data. The operator will also gain exclusive access to a network of 5G startups. It will be better positioned to introduce new partners and offerings to customers in the Irish market.

Ericsson expects to benefit from its strategy that hinges on increased investments in research and development for technology and cost leadership. The company is well positioned to benefit from the market momentum with a competitive 5G product portfolio.

The acquisition of Cradlepoint has strengthened Ericsson’s ability to grow in the 5G enterprise market. It currently has 138 commercial 5G agreements with operators.

The company continues to invest in strengthening its portfolio and expanding global footprint. It aims to create a strong platform for the long term with competitiveness in core business and enterprise applications.

Ericsson’s shares have gained 11.2% in the past six months compared with 1.9% growth of the industry.

The stock currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader industry are United States Cellular Corporation (USM - Free Report) , Vicor Corporation (VICR - Free Report) and Altice USA, Inc. (ATUS - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

U.S. Cellular delivered a trailing four-quarter earnings surprise of 123.9%, on average.

Vicor delivered a trailing four-quarter earnings surprise of 80.6%, on average.

Altice delivered a trailing four-quarter earnings surprise of 61.5%, on average.

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