Ericsson Powers 5G-Enabled Automated Ferry Service In Norway

Ericsson (NASDAQ:ERIC) recently joined forces with Telia Company AB (OTC:TLSNY) — a Swedish telecom and mobile network operator — and the Norwegian University of Science and Technology to showcase the unique capabilities of 5G technology in the development of autonomous transport facilities. Together, the companies demonstrated an automated ferry service in Norway, powered by 5G-enabled technology, thereby offering a glimpse of the upcoming technological innovations in the transport sector.

Dubbed milliAmpère, the automated ferry transported passengers across Trondheim’s harbor canal with sensors that recorded data from surroundings and fed to the control center. Ericsson 5G technology enabled Telia to securely support this vast data trove to effectively maneuver the ferry for a hassle-free journey. In particular, Ericsson’s 5G Radio and software, which enables upload speeds of more than 200Mbps and download speeds above 1Gbps, was key to the success, as it ensured that the vessel avoided any obstacle at every step.

The trial also established that the vessel could be remotely controlled from the control center at Gløshaugen via the same mobile network in case of any emergency to avoid any casualty.

Backed by the relentless pursuit to develop 5G-enabled autonomous vehicles across the globe, Ericsson has secured more than 75 commercial 5G agreements with unique communication service providers, of which 24 are live networks. The company is increasingly focusing on 5G system development to capitalize on the upcoming market opportunities. The company believes standardization of 5G is the cornerstone for digitization of industries and broadband. Moreover, Ericsson foresees mainstream 4G offerings to give way to 5G technology in the future.

Meanwhile, the impending deployment of 5G networks is expected to boost the adoption of IoT devices, with technologies like network slicing gaining more prominence. Currently, Ericsson is investing in its competitive 5G-ready portfolio to enable customers to seamlessly migrate to 5G. AI and automation remain key enablers for Ericsson’s future business development.

The stock has gained 2.2% year to date compared with the industry’s rise of 19.8%.

Ericsson currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include Qualcomm Incorporated (NASDAQ:QCOM) and Ubiquiti Inc. (NASDAQ:UI) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.

Qualcomm has a long-term earnings growth expectation of 14%. It delivered an average positive earnings surprise of 8.7% in the trailing four quarters, beating estimates on each occasion.

Ubiquiti has a long-term earnings growth expectation of 9.4%. It delivered an average positive earnings surprise of 16.1% in the trailing four quarters, beating estimates thrice.

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