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Telefonaktiebolaget LM Ericsson Inc. (ERIC) stock plunged during pre-market trading. Here’s to know why?

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Telefonaktiebolaget LM Ericsson Inc. (NASDAQ: ERIC) stock gained by 0.15% at last close whereas the ERIC stock-price declines by 7.85% in the pre-market trading session. Telefonaktiebolaget LM Ericsson is a Stockholm-based global networking and telecommunications corporation. For telecoms service providers and companies, ERIC supplies infrastructure, software, and services in information and communications technology, including 3G, 4G, and 5G equipment, as well as Internet Protocol (IP) and optical transport systems.

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Financial Highlights

Ericsson has released its second-quarter 2021 financial results. The highlights have been jotted down:

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Börje Ekholm, President and CEO of Ericsson stated,

The latest IPR deal with Samsung underlines the tremendous value of their patent portfolio, and they are well positioned to complete pending and upcoming patent license upgrades with this deal in place. In July, another agreement was struck. Renewal discussions are now at a high level of activity. Revenues will include retroactive payments for the unlicensed period previous to signing when new contracts are completed.

While many markets are returning to normal following the COVID-19 epidemic, they continue to witness an increase in the number of cases in Southeast Asia, which might impede the recovery of affected nations.

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