Ericsson focuses on patent licensing

STOCKHOLM, SWEDEN: Swedish company Ericsson announced Thursday that it would strengthen focus on Intellectual Property Rights (IPR) assets.

The company is reorganising its licensing and patent development department to further strengthen the focus on monetizing its IPR assets as wireless access is added to new types of devices, said Ericsson in a statement, adding that the reorganisation is effective instantly, reported Xinhua.

The market potential might be huge for the Information and Communications Technology (ICT) industry as the ICT industry is built on standardised and shared technologies, said Hans Vestberg, president and CEO of Ericsson.

"Today's six billion mobile phone subscriptions, and close to one billion mobile broadband subscriptions, would not be possible without this industry mentality," he added in the statement.