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BRIEF-Ericsson to refocus business, take charges
March 28, 2017 / 5:46 AM / 9 months ago

BRIEF-Ericsson to refocus business, take charges

March 28 (Reuters) - Ericsson

* Ericsson presents focused business strategy

* Ericsson says reallocated resources and increased investments in following core portfolio areas: networks, digital services (OSS/BSS and telecom core) and Internet of Things

* Ericsson says refocused strategy for managed services to improve profitability

* Says will explore strategic opportunities for IT cloud infrastructure hardware business

* Says to explore strategic opportunities for media business while continuing to develop media solutions

* Ericsson says write down of assets to be made in Q1, 2017, with an estimated impact on operating income of SEK 3-4 billion ($342-$456 million)

* Restructuring charges estimated to approximately SEK 6-8 bln for 2017, of which approximately SEK 2 bln in Q1

* Ericsson says separately, provisions of an estimated SEK 7-9 bln will be made in Q1, triggered by recent negative developments related to certain large customer projects Source text for Eikon: Further company coverage: ($1 = 8.7787 Swedish crowns) (Reporting by Stockholm Newsroom)

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