- Report: 5G Subscriptions Estimated to Reach 1.9bn in 2024
The latest edition of the Ericsson Mobility Report has estimated that global 5G subscriptions will reach 1.9 billion in 2024.
This, would represent a 400 million increase more than earlier predicted.
The President and Chief Executive Officer of Ericsson, Mr. Börje Ekholm, who presented the report at this year’s Mobile World Congress (MWC) in Shanghai, China, said Ericsson’s innovation would continue to unlock 5G potential for service providers and industry players in Asian countries and other regions, where it has its operations.
Ekholm, said this faster-than-expected growth was important for economies across the globe, especially China, where 5G serves as the backbone for a new digital paradigm.
At the GTI Summit, held in connection with MWC Shanghai 2019, Ekholm, had illustrated how Ericsson was using its insights from early 5G deployments to help industries capture the technology’s vast potential.
“Connectivity will be critical to digitalising the economy, and we see 5G as the necessary backbone of this development. This is a fundamental shift for mobility – from empowering consumers to empowering industries,” Ekholm said.
This was already happening in many parts of the world, including China. For example, Ericsson is cooperating there with China Mobile’s Jiangsu branch and RoboTechnik.
As part of an Industry 4.0 project, Ericsson had deployed a “hybrid network” solution in a RoboTechnik factory that combined 4G and 5G, private and commercial networks, as well as a central and edge cloud to meet requirements of safety production and management.
5G, together with Artificial Intelligence (AI), Cloud and Edge computing, represented one the most powerful technology platforms ever created.
The potential of these technologies builds on a synergy of key components, each powerful in its own rite, but combined will enable a fundamental shift, Ericsson President and CEO said.
“We are standing at a historical moment. The possibilities of the 4th Industrial Revolution are limited only by our imagination, as we work to tackle everything from climate issues to the role of technology in our societies,” Ekholm explained.
According to him, “Automation is also critical. We are developing and deploying AI-based managed services solutions to improve network quality and consumer experiences and have already successfully integrated the first online deployment for AI-based cell issue classification to improve network performance.”
Ericsson recently announced a partnership with KDDI in Japan to implement an AI-based solution that automatically finds optimal radio network parameters in the network. This resulted in increased spectrum efficiency between bands and improved throughput.
In a series of trials conducted in dense urban areas, the company improved network throughout for KDDI by nearly 10 per cent.
Ericsson has a long history in China, delivering solutions there since 1894, and the company has since then, contributed to every generation of technology in the Chinese telecommunications industry.
“Time has proven that Ericsson is a trusted partner in China,” Ekholm said. “Ericsson remains committed to China and the rest of the world and will continue to support our customers and China’s development with the same courage, faith and vision, just like when we started out our journey in the Asian country more than 125 years ago,” Ekholm said.
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Fintech Company, Grey, Unveils New Look to Support its Global Expansion Strategy
Grey, a leading cross-border fintech company, has embarked on a significant global brand rebranding initiative, revealing a fresh logo and website design.
This strategic move aligns with the company’s dynamic plans to expand its footprint in the global market.
The company’s transformation was unveiled on its social media platforms on Monday, November 27, 2023. Grey aims to leverage this fresh identity to reach a broader audience and solidify its international presence. The updated brand assets visually represent Grey’s commitment to innovation, excellence, and global connectivity.
The rebranding initiative follows closely on the heels of Grey celebrating a milestone achievement of surpassing 500,000 users. The company’s rapid growth and expanding user base have spurred this bold step towards rebranding, symbolizing success and underlining its dedication to remaining at the forefront of global fintech innovation. Furthermore, the previous logo was not usable in some foreign markets due to trademark conflicts with another company.
Idee Obong, The CEO and founder of Grey, shared insights into the rationale behind the rebranding, stating, “As we chart our course toward serving a global audience, we recognized the need for trademarks and related processes. We identified similarities with existing marks during this evaluation, prompting a deliberate rebrand. The new logo and website signify our forward trajectory, emphasizing global connectivity and our commitment to creating a more interconnected world. Our focus remains on being people-centric and cultivating a lasting community.”
Grey’s brand evolution is occurring at a crucial juncture for the fintech industry, which is positioned for significant opportunities despite recent economic uncertainties. The fintech sector has faced challenges in the past year; notwithstanding, Grey has rapidly scaled, adeptly responding to the heightened demand for its services.
The company has also established key partnerships across both B2B and B2C sectors across Africa over the past months, solidifying its reputation as a trusted and reliable cross-border payments company.
Femi Aghedo, Co-founder of Grey, emphasized the strategic timing of the brand evolution, stating, “The timing simply felt right to evolve our brand. Our growth and evolution as a business needed to be reflected tangibly. We are dedicated to ongoing innovation, adapting our services to meet the dynamic needs of our customers. Our core mission is to provide seamless and secure cross-border payment solutions, empowering businesses and individuals in the global economy. We eagerly anticipate the future of fintech and the opportunities it presents for us to impact the industry positively.”
Furthermore, customers can expect a more innovative and interconnected user experience when engaging on their platforms. As Grey ventures into this exciting new chapter, the team remains committed to providing cutting-edge and secure cross-border payment solutions, fostering global connectivity, and contributing to the evolving landscape of the fintech industry.
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