Ericsson increases ownership in LG-Ericsson

Ericsson has increased its ownership in LG-Ericsson from 50 percent plus one share, to 75 percent.

The move has successfully established Ericsson in the Korean market. LG-Ericsson is a joint venture between LG Electronics and Ericsson in which Ericsson acquired Nortel's part of the company in July 2010.

The company provides customized solutions for operators and enterprises with a portfolio of mobile and fixed network infrastructure, telecom services, software, broadband, voice and data network solutions for enterprises.

The joint venture is fully consolidated by Ericsson since the acquisition in 2010.