Ericsson has signed an agreement with the Nordic Investment Bank to secure a credit agreement of $150 million to invest in 5G technology and research.
Some $98 million of the fund will replace a credit the company had with NIB that was set to mature in 2021.
The new agreement is set to mature in 2025.
Ericsson said the loan had also been granted for the purpose of supporting investments in research and development in relation to the development of 5G technology during 2020-22.
Erik Ekudden, Ericsson chief technology officer, said: “Our increased investments to secure technology leadership in 5G, IoT and digital services have enabled us to reach nearly 80 commercial 5G agreements and contracts with unique operators, 24 of which are live networks – more than any other company. In the coming years, we will see 5G networks going live around the world, with major deployments from 2020 and we expect the global number of 5G subscriptions to top 2.6 billion in 2025.”