Ericsson comprises three major business segments. The company’s Networks segment develops network infrastructure for communication over mobile and fixed connections, the Global Services segment provide telecoms-related managed services, while the Support Solutions engages in the development of software for operations and business support systems. Ericsson also designs and sells LTE multimode thin modems that include 2G, 3G and 4G interoperability. The company also provides end-to-end services for all major mobile communication standards. As of March 2016, the company had a 19.3 percent share of the market for IT network vendors, behind only Cisco and Huawei in terms of market reach. Some of its other market competitors include Nokia, Alcatel Lucent, and ZTE.
In 2016, Ericsson’s operating income fell to around 690 million U.S. dollars, down from 2.4 billion in 2015, while its net sales worldwide amounted to 24.49 billion U.S. dollars. North America accounts for the largest regional share of revenue generated by the Ericsson Group and the company currently has over a 100 thousand employees worldwide.