Ericsson to close down telecom cable manufacturing

Ericsson (NASDAQ: ERIC) today initiated union negotiations to close down its telecom cables operation within business unit Networks.

As the market for copper cable has declined and the market for fiber cable has grown over the last years, the production has shifted towards Asia, where the majority of the business volumes for fiber cable are found. In Europe there is more production than demand for both copper and fiber cables.

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