Ericsson announces impairment charge of $2.92 bln in Q3

The impairment charge represents 50% of the total amount of goodwill and other intangible assets attributed to Vonage, a company that Ericsson bought for $6.2 billion in 2022.

A logo of Ericsson.

Credit: Reuters Photo

Sweden's Ericsson said on Wednesday that it will record a non-cash impairment charge of 32 billion Swedish crowns ($2.92 billion) in the third quarter of 2023.

The impairment charge represents 50 per cent of the total amount of goodwill and other intangible assets attributed to Vonage, a company that Ericsson bought for $6.2 billion in 2022.

Deccan Herald is on WhatsApp Channels | Join now for Breaking News & Editor's Picks