Ericsson takes 11.4B SEK ($1.1B) impairment charge on Vonage due to weaker market and growth reduction.

Ericsson, the Swedish telecom network company, has announced a non-cash impairment charge of 11.4 billion Swedish kronor ($1.1 billion) in the second quarter due to weaker market conditions and Vonage's reduced growth prospects. This is the second major writedown on Vonage, acquired in 2021, following a $3 billion charge in October. Ericsson's share price has fallen as a result of these writedowns.