The latest news on Ericsson reminds me of the greatest turn around of all time: IBM turn around in the hands of Lou Gerstner, which he wrote in his book: Who Says Elephants Can’t Dance?
Ericsson’s acting CEO, in the press release warns that the upcoming Q3 financial report will not be as rosy as what was promised. In fact, the report will be much worse: 14% sales decline, and 93% decline in operating profit. But it is still way better than IBM in the 1990s. Ericsson is still profitable, compared to IBM $8 Billion loss.
But the question is, can Ericsson dance better than IBM? And who will be the mastermind to make Ericsson dance?