Unless otherwise indicated, all references herein to “Ericsson,” the “Company,” “the Group,” “we,” “us,” or “our” or “our company” are references to Telefonaktiebolaget LM Ericsson and its consolidated subsidiaries.
This document is our Annual Report on Form
for the year ended December 31, 2021 (the “2021 Form
Reference is made to the English version of our Swedish Annual Report for 2021, with certain adjustments made to comply with U.S. requirements and the additional disclosure and updates made in the document due to subsequent events which is attached hereto as Exhibit 15.1 (the “2021 Swedish Annual Report (adjusted version)”). Only (i) the information included in this 2021 Form
(ii) the information in the 2021 Swedish Annual Report (adjusted version) that is incorporated by reference in this 2021 Form
and (iii) the exhibits to the 2021 Form
that are required to be filed pursuant to the Form
shall be deemed to be filed with the Securities and Exchange Commission for any purpose, including incorporation by reference into the Registration Statement on Form
filed on March 26, 2021 (File
) and any other document filed by us pursuant to the Securities Act of 1933, as amended, which incorporates by reference the 2021 Form
Any information in the 2021 Swedish Annual Report (adjusted version) that is not referenced in the 2021 Form
or filed as an exhibit thereto shall not be deemed to be so incorporated by reference. Certain industry, technical and financial terms used in this 2021 Form
are defined in the subsections entitled “Glossary” and “Financial Terminology” of the 2021 Swedish Annual Report (adjusted version), which are incorporated herein by reference.
Market data and certain industry forecasts used herein were obtained from internal surveys, market research, publicly available information and industry publications. While we believe that market research, publicly available information and industry publications we use are reliable, we have not independently verified market and industry data from third-party sources. Moreover, while we believe our internal surveys are reliable, they have not been verified by any independent source.
The information included on
/ and other websites that appear in this 2021 Form
is not incorporated by reference herein. From time to time, we may use our website as a channel of distribution of material company information. Financial and other material information regarding our company is routinely posted on and accessible at
This 2021 Form
includes forward-looking statements, including statements reflecting management’s current views relating to the growth of the market, future market conditions, future events, financial condition, and expected operational and financial performance, including the following:
–– Our goals, targets, strategies, planning assumptions and operational or financial performance expectations, such as the investor day key messages and our targets and strategies as described in the introductory bullets, the CEO comments, the Segment descriptions and in Other information
–– Industry trends, future characteristics and development of the markets in which we operate
–– Our future liquidity, capital resources, capital expenditures, cost savings and profitability
–– The expected demand for our existing and new products and services as well as plans to launch new products and services including research and development expenditures
–– The ability to deliver on future plans and to realize potential for future growth
–– The expected operational or financial performance of strategic cooperation activities and joint ventures
–– The time until acquired entities and businesses will be integrated and accretive to income
–– Technology and industry trends including the regulatory and standardization environment in which we operate, competition and our customer structure.
The words “believe”, “expect”, “foresee”, “anticipate”, “assume”, “intend”, “likely”, “projects”, “may”, “could”, “plan”, “estimate”, “forecast”, “will”, “should”, “would”, “predict”, “aim”, “ambition”, “seek”, “potential”, “target”, “might”, “continue”, or, in each case, their negative or variations, and similar words or expressions are used to identify forward-looking statements. Any statement that refers to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
We caution investors that these statements are subject to risks and uncertainties many of which are difficult to predict and generally beyond our control that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements.
Important factors that could affect whether and to what extent any of our forward-looking statements materialize include but are not limited to the factors described in the section Risk Factors.
These forward-looking statements also represent our estimates and assumptions only as of the date that they were made. We expressly disclaim a duty to provide updates to these forward-looking statements, and the estimates and assumptions associated with them, after the date of this
to reflect events or changes in circumstances or changes in expectations or the occurrence of anticipated events, whether as a result of new information, future events or otherwise, except as required by applicable law or stock exchange regulation.
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE
A. Selected Financial Data
The selected financial data previously required this Item has been omitted in reliance on SEC Release
Management’s Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information.
B. Capitalization and Indebtedness
C. Reasons for the Offer and Use of Proceeds
The information set forth under the heading “Financial Report – Risk Factors” of the 2021 Swedish Annual Report (adjusted version) is incorporated herein by reference.