The Cloud Software and Services business was set up last year and has struggled to break even.
Key priorities for the company include limiting subscale software deployment, accelerating automation to lower deployment and maintenance efforts and changing focus from market share gains to a profitable business.
The company says it will exit certain subscale agreements as part of the move. Potential buyers for Ericsson’s cloud business reportedly included Amdocs and Netcracker.
The target, Ericsson says, is to reach break-even in full year 2023 on EBIT/EBITA level with gradual improvements towards long-term attractive profitability.
Ericsson’s Q4 results are set to be published on January 20.
