Ericsson Eyes 6G Network Research in UK - Telefonaktiebolaget L M (NASDAQ:ERIC)

Ericsson ERIC looked to establish a new research unit in the U.K. as part of a multi-million-pound investment to boost the country's future wireless connectivity capabilities.
Ericsson would invest millions of pounds (GBP) over the next ten years in a U.K.-based program focusing on 6G research and breakthrough innovations.
Research areas will include network resilience and security, artificial intelligence, cognitive networks, and energy efficiency.
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The program will employ 20 dedicated researchers and support additional Ph.D. students working alongside leading academics, CSPs, and industry partners to lead 6G research projects that contribute to developing global technology, network innovation, and new product solutions.
Katherine Ainley, CEO of Ericsson UK & Ireland, says: Possible partner universities include Surrey, Bristol, and Manchester, adding that it typically takes 8-10 years from engagement with researchers to developing commercial technology, Reuters reports.
Ericsson reported a third-quarter FY22 sales growth of 21% year-on-year to SEK 68 billion.
Group organic sales grew by 3% Y/Y, driven by Networks in North America. Organic sales in Networks rose 7% Y/Y.
Price Action: ERIC shares traded lower by 0.33% at $6.04 in the premarket on the last check Tuesday.