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Ericsson scraps push for new clients beyond telecoms

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Ericsson has to prove it can remain relevant in an industry that has gone from over 10 major players to three in 20 years. Investors question whether it can do this under new new CEO Borje Ekholm.

Stockholm

ERICSSON has ditched its goal of winning more clients beyond the telecoms industry to refocus on selling networks to mobile phone companies in a move to cut costs and halt a dramatic fall in its share price.

The Swedish firm's clients in its core business include Vodafone

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