Croatia
, image_flag = Flag of Croatia.svg
, image_coat = Coat of arms of Croatia.svg
, anthem = "Lijepa naša domovino"("Our Beautiful Homeland")
, image_map =
, map_caption =
, capit ...
n affiliate of the
Swedish
Swedish or ' may refer to:
Anything from or related to Sweden, a country in Northern Europe. Or, specifically:
* Swedish language, a North Germanic language spoken primarily in Sweden and Finland
** Swedish alphabet, the official alphabet used by ...
telecommunication
Telecommunication is the transmission of information by various types of technologies over wire, radio, optical, or other electromagnetic systems. It has its origin in the desire of humans for communication over a distance greater than that fe ...
s equipment manufacturer
Ericsson
(lit. "Telephone Stock Company of LM Ericsson"), commonly known as Ericsson, is a Swedish multinational networking and telecommunications company headquartered in Stockholm. The company sells infrastructure, software, and services in informa ...
Zagreb Stock Exchange
The Zagreb Stock Exchange or ZSE ( hr, Zagrebačka burza ) is a stock exchange located in Zagreb, Croatia. It is Croatia's only stock exchange. The exchange trades shares of Croatian companies, as well as bonds and commercial bills.
The ZSE was ...
, independently of Ericsson.
History
Ericsson Nikola Tesla traces its roots back to the state-owned Nikola Tesla Corporation founded in 1949 in
Zagreb
Zagreb ( , , , ) is the capital and largest city of Croatia. It is in the northwest of the country, along the Sava river, at the southern slopes of the Medvednica mountain. Zagreb stands near the international border between Croatia and Slov ...
, then SFR Yugoslavia. It was very successful in the local telecommunications market, and the regional markets, especially of
Europe
Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a subcontinent of Eurasia and it is located entirel ...
, for over forty years. It became a licence partner of
Ericsson
(lit. "Telephone Stock Company of LM Ericsson"), commonly known as Ericsson, is a Swedish multinational networking and telecommunications company headquartered in Stockholm. The company sells infrastructure, software, and services in informa ...
of Sweden in 1953, selling large volumes of Ericsson systems into the
USSR
The Soviet Union,. officially the Union of Soviet Socialist Republics. (USSR),. was a transcontinental country that spanned much of Eurasia from 1922 to 1991. A flagship communist state, it was nominally a federal union of fifteen nationa ...
and other markets from 1958.
In 1977, the company began making Ericsson AXE switches under licence.
With the collapse of Yugoslavia and the independence of Croatia, the state began looking to privatize the corporation in the year 1992. By 1994,
Ericsson
(lit. "Telephone Stock Company of LM Ericsson"), commonly known as Ericsson, is a Swedish multinational networking and telecommunications company headquartered in Stockholm. The company sells infrastructure, software, and services in informa ...
emerged as the highest bidder and took a share of the corporation just short of majority ownership, integrating operations to a significant extent by 1995.
In 2011, the company was Croatia's eighth largest exporter.
Operations
The company is based in Zagreb, with some R&D activities in Split. Staff number in excess of 1450. Gordana Kovačević serves as president of Ericsson Nikola Tesla and head of its Management Board, while its Supervisory Board is normally headed by the head of the Ericsson Market Unit which includes Croatia.
Significant customers exist in Croatia and
Bosnia and Herzegovina
Bosnia and Herzegovina ( sh, / , ), abbreviated BiH () or B&H, sometimes called Bosnia–Herzegovina and often known informally as Bosnia, is a country at the crossroads of south and southeast Europe, located in the Balkans. Bosnia and H ...
, as well as Russia, other states of the former USSR and SFR Yugoslavia, and parts of Africa and the Middle East, and the company markets to Croatia, foreign markets and the Ericsson Group. Sixty percent of sales are exports.
Finances
Sales for 2007 totalled 1.78 billion US$, having risen year-on-year for many years. Steadily rising costs of sales have eroded profit, with net income being just under 200 million US$ for 2007.
Market capitalization exceeds US$300 million.