Telefonaktiebolaget LM Ericsson B is trading 4.8% down at $11.92 in pre-market, extending recent weakness even as the company announced several new business developments this morning.
- Ericsson and Epiroc announced an expanded global alliance to provide 5G connectivity for mining automation, with Epiroc set to resell Ericsson's enterprise technology.
- Separately, the company signed a Memorandum of Understanding (MoU) with Zamtel, a state-owned operator in Zambia, to deliver private 4G and 5G network solutions in the country.
- The stock's decline continues a negative trend from the past week, which has included several sharp drops.