{"id":245388,"date":"2021-05-12T11:49:11","date_gmt":"2021-05-12T11:49:11","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=317076"},"modified":"2021-05-12T11:49:11","modified_gmt":"2021-05-12T11:49:11","slug":"ericsson-to-pay-nokia-e80m-for-damages-claim","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2021\/05\/12\/ericsson-to-pay-nokia-e80m-for-damages-claim\/","title":{"rendered":"Ericsson to pay Nokia \u20ac80M for damages claim"},"content":{"rendered":"

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\tEricsson agreed to pay \u20ac80 million to settle a damages claim by Nokia related to a bribery case [1] in the US, a move the Sweden-based vendor warned would have a noticeable impact on earnings in the current quarter.<\/p>\n

The vendor stated the payment relates to a $1.06 billion settlement agreed with the US government in 2019 after it admitted to bookkeeping breaches and bribery spanning 16 years.<\/p>\n

Ericsson noted the amount it will pay to cover damages claimed by Nokia reflected \u201cuncertainty, risk, expense and potential distraction from business focus\u201d which could be caused by \u201clengthy and complex litigation\u201d.<\/p>\n

It expects the payment to impact its earnings before taxes in the current quarter, with a \u20ac26 million hit on cash flow. There will be lingering effects, with the payment to be spread over three instalments.<\/p>\n

Ericsson highlighted its \u201czero-tolerance policy\u201d for corruption and noted it put efforts in building a \u201cculture of compliance\u201d.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/ericsson-pays-1-1b-to-settle-foreign-bribery-case<\/p>\n\n

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Ericsson agreed to pay \u20ac80 million to settle a damages claim by Nokia related to …<\/p>\n

The post Ericsson to pay Nokia \u20ac80M for damages claim<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":211,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"Ericsson to pay Nokia \u20ac80M for damages claim - ITTeacherITFreelance.hk","description":"Ericsson agreed to pay \u20ac80 million to settle a damages claim by Nokia related to ... The post Ericsson to pay Nokia \u20ac80M for damages claim appeared first on Mob"},"footnotes":""},"categories":[11,8],"tags":[],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/245388"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/211"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=245388"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/245388\/revisions"}],"predecessor-version":[{"id":245389,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/245388\/revisions\/245389"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=245388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=245388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=245388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}