Ericsson to book $1.1 billion impairment on weaker outlook for Vonage

Mobile telecoms equipment maker Ericsson said on Wednesday it will record a noncash impairment charge of 11.4 billion Swedish crowns ($1.09 billion) in the second quarter of 2024, the second writedown on its acquisition of Vonage.

The impairment charge reflects lower anticipated market growth in some of Vonage’s current portfolio, the company said in a statement.