Ericsson (ERIC - Free Report) recently announced that it has expanded its “Connect to Learn” initiative in India. Under the initiative, the company’s mobile broadband solutions will offer internet connectivity and access to a digital education program at 34centers, managed by the Smile Foundation.
Through the “Smile Twin E-learning Programme”, thecentershelp unprivileged youth to acquire skills such as English proficiency and computer literacy. Ericsson supported the program by developing new web-based training modules and donating computers to the centers. As part of the initiative, the company offered training to teachers for the use of the web-based training modules as well as integrate them with traditional teaching methods.
Launched in 2010, “Connect to Learn” is a global education initiative, which scales up access to quality education, through the integration of technology tools and digital learning resources. To date, the initiative has addressed challenges related to education access in 25 countries for more than 120,000 students.
Existing Business Scenario
Ericsson, being one of the premier telecom services providers, is much in demand among operators to expand network coverage and upgrade networks for higher speed and capacity. Notably, Ericsson is the world’s largest supplier of LTE technology with a significant market share and has established a large number of LTE networks worldwide.
This Zacks Rank #2 (Buy) stock has outperformed the industry in the past six months with a return of 12.9% compared with the industry’s rise of 0.6%.
Moreover, the company constantly seeks to seize business opportunities as operators shift toward 4G deployments and prepare grounds for the forthcoming 5G revolution. Also, it plans to focus more on software sales and recurring business that complements its thriving Professional Services business in terms of “targeted growth” investments. With such concerted efforts, Ericsson expects to be better-equipped to address the varied needs of its customer segments and tap into market opportunities for faster growth.
Further, the company is also investing in R&D to increase its competitiveness in Networks business. Also, it is working to intensify cost-streamlining efforts, with focus on structural changes that will help generate lasting efficiency gains and boost cost competitiveness.
Other Key Picks
Some other top-ranked stocks from the same space are Comtech Telecommunications Corp. (CMTL - Free Report) , Juniper Networks, Inc. (JNPR - Free Report) and Ubiquiti Networks, Inc. (UBNT - Free Report) . While Comtech Telecommunications sports a Zacks Rank #1 (Strong Buy), Juniper Networks and Ubiquiti Networks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Comtech Telecommunications surpassed estimates in each of the trailing four quarters, with an average positive earnings surprise of 123.70%.
Juniper Networks outpaced estimates thrice in the preceding four quarters, with an average positive earnings surprise of 3.35%.
Ubiquiti Networks surpassed estimates thrice in the preceding four quarters, with an average positive earnings surprise of 8.88%.
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