5G momentum accelerating globally; committed to open markets: Ericsson CEO

Swedish telecom equipment maker Ericsson on Tuesday said 5G adoption is accelerating around the world, and the company remains upbeat about the future given the rapid pace of innovation.

The company is firmly committed to open competition and open markets, Borje Ekholm, president and CEO of Ericsson said.

He was speaking at the Ericsson UnBoxed 2021 event.

The global challenges posed by 2020 notwithstanding, the company is excited about the future, he said, noting that the pace of innovation is higher than ever before.

The pandemic has highlighted the importance of mobile networks as a critical piece of infrastructure, Ekholm said.

"We have always been and always will be believer in open markets and open competition," he said, adding that the concept of global open standard has made mobile technology affordable due to significant economies of scale.

The 5G adoption is accelerating around the world, and 5G subscriptions globally is estimated to exceed half a billion before the end of the year, he said.

Consumption of data by 5G subscribers is 2-3 times higher than that of 4G users, he pointed out.