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Ericsson points finger at aging tech for latest write-down

Ericsson has condemned three business segments to further humiliation by announcing a hefty $1.8 billion write-down, including markets where Ericsson was known to be struggling, alongside surprise fields with seemingly steady performance. Some observers have noted that the latest write-down could be the company’s last, when clearly the Swedish vendor’s fall from grace is far from over. However, investors have rallied around its share price, appearing confident that once a company takes a long hard look at itself, these types of write-downs are inevitable and therefore welcome. Perhaps the surprise show was Ericsson’s Digital Services segment, which experienced impairment of $830 million of goodwill and $50 million of intangible assets. This primarily comprises cloud computing, which houses OSS/BSS operations –…

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