172-720: Telefonaktiebolaget LM Ericsson ( lit. ' Telephone Stock Company of LM Ericsson ' ), commonly known as Ericsson , is a Swedish multinational networking and telecommunications company headquartered in Stockholm , Sweden . The company sells infrastructure, software, and services in information and communications technology for telecommunications service providers and enterprises, including, among others, 3G , 4G , and 5G equipment, and Internet Protocol (IP) and optical transport systems. The company employs around 100,000 people and operates in more than 180 countries. Ericsson has over 57,000 granted patents. Ericsson has been
344-512: A de facto world standard, combined with Ericsson's other mobile standards, such as D-AMPS and PDC , meant that by the start of 1997, Ericsson had an estimated 40% share of the world's mobile market, with around 54 million subscribers. There were also around 188 million AXE lines in place or on order in 117 countries. Telecom and chip companies worked in the 1990s to provide Internet access over mobile telephones. Early versions such as Wireless Application Protocol (WAP) used packet data over
516-634: A deflationary spiral started in 1931. Farmers faced a worse outlook; declining crop prices and a Great Plains drought crippled their economic outlook. At its peak, the Great Depression saw nearly 10% of all Great Plains farms change hands despite federal assistance. At first, the decline in the U.S. economy was the factor that triggered economic downturns in most other countries due to a decline in trade, capital movement, and global business confidence. Then, internal weaknesses or strengths in each country made conditions worse or better. For example,
688-713: A global city , it is the largest in Scandinavia and the main centre for corporate headquarters in the Nordic region. The city is home to some of Europe's top-ranking universities, such as the Karolinska Institute (medicine), KTH Royal Institute of Technology , Stockholm School of Economics and Stockholm University . It hosts the annual Nobel Prize ceremonies and banquet at the Stockholm Concert Hall and Stockholm City Hall . One of
860-484: A plague killed about 20,000 (36 percent) of the population. After the end of the Great Northern War the city stagnated; population growth halted and economic growth slowed. The city was in shock after having lost its place as the capital of a great power . However, Stockholm maintained its role as Sweden's political centre and continued to develop as the country's economic and cultural capital. During
1032-418: A silver standard , almost avoided the depression entirely. The connection between leaving the gold standard as a strong predictor of that country's severity of its depression and the length of time of its recovery has been shown to be consistent for dozens of countries, including developing countries . This partly explains why the experience and length of the depression differed between regions and states around
1204-468: A strategic partnership to combine the former's web browser and server software with the latter's mobile-internet technologies. In 2000, the Dot-com bubble burst with marked economic implications for Sweden . Ericsson, the world's largest producer of mobile telecommunications equipment, shed thousands of jobs, as did the country's Internet consulting firms and dot-com start-ups . In the same year, Intel ,
1376-539: A 50/50 joint venture owned by Ericsson and STMicroelectronics. This joint venture was divested in 2013 and remaining activities can be found in Ericsson Modems and STMicroelectronics . Ericsson Mobile Platform ceased being a legal entity early 2009. Stockholm Stockholm ( Swedish: [ˈstɔ̂kː(h)ɔlm] ) is the capital and most populous city of the Kingdom of Sweden , as well as
1548-493: A dial on the front and appropriate changes to the electronics. Elaborate decals decorated the cases. World War I , the subsequent Great Depression and the loss of its Russian assets after the Revolution slowed the company's development while sales to other countries fell by about half. The acquisition of other telecommunications companies put pressure on Ericsson's finances; in 1925, Karl Fredric Wincrantz took control of
1720-996: A driver in the development of 2G, 3G, 4G/LTE and 5G technology, and the evolution towards all-IP, and it develops and deploys advanced LTE systems, but it is still developing the older GSM , WCDMA , and CDMA technologies. The company's networks portfolio also includes microwave transport, Internet Protocol (IP) networks, fixed-access services for copper and fiber, and mobile broadband modules, several levels of fixed broadband access, radio access networks from small pico cells to high-capacity macro cells and controllers for radio base stations. Ericsson's network rollout services employ in-house capabilities, subcontractors and central resources to make changes to live networks. Services such as technology deployment, network transformation, support services and network optimization are also provided. This unit provides core networks, Operations Support Systems such as network management and analytics, and Business Support Systems such as billing and mediation. Within
1892-604: A former privately run bank, bearing no relation to the U.S. government (not to be confused with the Federal Reserve ). Unable to pay out to all of its creditors, the bank failed. Among the 608 American banks that closed in November and December 1930, the Bank of United States accounted for a third of the total $ 550 million deposits lost and, with its closure, bank failures reached a critical mass. In an initial response to
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#17327727919382064-467: A greater reduction in credit. On 5 April 1933, President Roosevelt signed Executive Order 6102 making the private ownership of gold certificates , coins and bullion illegal, reducing the pressure on Federal Reserve gold. British economist John Maynard Keynes argued in The General Theory of Employment, Interest and Money that lower aggregate expenditures in the economy contributed to
2236-766: A history going back to the conservatory founded as part of the Royal Swedish Academy of Music in 1771, the Royal University College of Fine Arts , which has a similar historical association with the Royal Swedish Academy of Arts and a foundation date of 1735, and the Swedish National Academy of Mime and Acting , which is the continuation of the school of the Royal Dramatic Theatre , once attended by renowned actors like Greta Garbo . Other schools include
2408-470: A major European power, reflected in the development of the city of Stockholm. From 1610 to 1680 the population multiplied sixfold. In 1634, Stockholm became the official capital of the Swedish empire. Trading rules were also created that gave Stockholm an essential monopoly over trade between foreign merchants and other Swedish, Baltic and Scandinavian territories. In 1697, Tre Kronor Castle burned down and
2580-564: A major contributor to the development of the telecommunications industry and is one of the leaders in 5G. The company was founded in 1876 by Lars Magnus Ericsson and is jointly controlled by the Wallenberg family through its holding company Investor AB , and the universal bank Handelsbanken through its investment company Industrivärden. The Wallenbergs and the Handelsbanken sphere acquired their voting-strong A-shares, and thus
2752-466: A million people lost their jobs in the global telecom industry over the two years. The collapse of U.S. carrier WorldCom , with more than $ 107 billion in assets, was the biggest in U.S. history. The sector's problems caused bankruptcies and job losses, and led to changes in the leadership of several major companies. Ericsson made 20,000 more staff redundant and raised about $ 3 billion from its shareholders. In June 2002, Infineon Technologies (then
2924-514: A modern and ethnically diverse city in the latter half of the 20th century. Many historical buildings were torn down during the modernist era, including substantial parts of the historical district of Klara (which caused major controversy), and replaced with modern architecture. However, in many other parts of Stockholm (such as in Gamla stan , Södermalm , Östermalm , Kungsholmen and Vasastan ), many older buildings, blocks and streets built before
3096-600: A modern industrial city handled shortages of money and resources. Often they updated strategies their mothers used when they were growing up in poor families. Cheap foods were used, such as soups, beans and noodles. They purchased the cheapest cuts of meat—sometimes even horse meat—and recycled the Sunday roast into sandwiches and soups. They sewed and patched clothing, traded with their neighbors for outgrown items, and made do with colder homes. New furniture and appliances were postponed until better days. Many women also worked outside
3268-402: A monetary contraction first-hand were forced to join the deflationary policy since higher interest rates in countries that performed a deflationary policy led to a gold outflow in countries with lower interest rates. Under the gold standard's price–specie flow mechanism , countries that lost gold but nevertheless wanted to maintain the gold standard had to permit their money supply to decrease and
3440-465: A result of this massive population growth, there has been a proposal to build densely packed high-rise buildings in the city centre connected by elevated walkways, though these have been opposed by several groups. Stockholm is located on Sweden's east coast at the 59th parallel north, where the freshwater Lake Mälaren —Sweden's third-largest lake—flows out into the Baltic Sea. The central parts of
3612-779: A scale unprecedented since the reign of Queen Christina . During this time, Carl Michael Bellman and Joseph Martin Kraus helped develop the city's music, a process further accelerated by the founding of the Royal Swedish Opera . Various artists and writers became prominent, funded by the king and other cultural patrons like Carl Gustaf Tessin ; the two aforementioned figures laid the base for Sweden's Nationalmuseum at this time. Science also became prevalent; renowned figures like Carl Linnaeus and Anders Celsius spent time in Stockholm, and various research institutes, like
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#17327727919383784-567: A serious issue in the 1930s. Support for increasing welfare programs during the depression included a focus on women in the family. The Conseil Supérieur de la Natalité campaigned for provisions enacted in the Code de la Famille (1939) that increased state assistance to families with children and required employers to protect the jobs of fathers, even if they were immigrants. In rural and small-town areas, women expanded their operation of vegetable gardens to include as much food production as possible. In
3956-466: A similar latitude, or even farther south. With an average of 1900 hours of sunshine per year, it is also one of the sunniest cities in Northern Europe, receiving more sunshine than Paris, London and a few other major European cities of a more southerly latitude. Because of the urban heat island effect and the prevailing wind travelling overland rather than sea during summer months, Stockholm has
4128-480: A small cadre of Labour, but the vast majority of Labour leaders denounced MacDonald as a traitor for leading the new government. Britain went off the gold standard , and suffered relatively less than other major countries in the Great Depression. In the 1931 British election, the Labour Party was virtually destroyed, leaving MacDonald as prime minister for a largely Conservative coalition. In most countries of
4300-713: A standstill agreement froze Germany's foreign liabilities for six months. Germany received emergency funding from private banks in New York as well as the Bank of International Settlements and the Bank of England. The funding only slowed the process. Industrial failures began in Germany, a major bank closed in July and a two-day holiday for all German banks was declared. Business failures were more frequent in July, and spread to Romania and Hungary. The crisis continued to get worse in Germany, bringing political upheaval that finally led to
4472-457: A year later it moved headquarters from Sweden to Japan. As a joint venture with Sony, Ericsson's mobile telephone production was moved into the company Sony Ericsson in 2001. The following is a list of mobile phones marketed under the brand name Ericsson. Ericsson Mobile Platforms existed for eight years; on 12 February 2009, Ericsson announced it would be merged with the mobile platform company of STMicroelectronics , ST-NXP Wireless, to create
4644-658: Is a consensus that the Federal Reserve System should have cut short the process of monetary deflation and banking collapse, by expanding the money supply and acting as lender of last resort . If they had done this, the economic downturn would have been far less severe and much shorter. Modern mainstream economists see the reasons in Insufficient spending, the money supply reduction, and debt on margin led to falling prices and further bankruptcies ( Irving Fisher 's debt deflation). The monetarist explanation
4816-543: Is also responsible for financial administration and long-term development. The City Executive Board consists of 13 members, who represent both the majority and the opposition. Its meetings are not open to the public. Stockholm City Hall is one of the city's key landmarks, built in the National Romantic Style at the beginning of the twentieth century. Hosting the Nobel Prizes and the government of
4988-726: Is an administrative unit defined by geographical borders. The semi-official name for the municipality is City of Stockholm ( Stockholms stad in Swedish). As a municipality, the City of Stockholm is subdivided into district councils, which carry responsibility for primary schools, social, leisure and cultural services within their respective areas. The municipality is usually described in terms of its three main parts: Innerstaden ( Stockholm City Centre ), Söderort (Southern Stockholm) and Västerort (Western Stockholm). The districts of these parts are: The modern centre Norrmalm (concentrated around
5160-572: Is based on export-oriented services, often towards larger, nearby European markets like Poland or Germany. Tourism is a major industry in Stockholm. Research and higher education in the sciences started in Stockholm in the 18th century, with education in medicine and various research institutions such as the Stockholm Observatory . The medical education was eventually formalised in 1811 as Karolinska Institutet . KTH Royal Institute of Technology ( Swedish: Kungliga Tekniska högskolan )
5332-900: Is part of 'Group Function Technology' and addresses several facets of network architecture: wireless access networks; radio access technologies; broadband technologies; packet technologies; multimedia technologies; services software; EMF safety and sustainability; security; and global services. The head of research since 2012 is Sara Mazur . Group Function Technology holds research co-operations with several major universities and research institutes including Lund University in Sweden, Eötvös Loránd University in Hungary and Beijing Institute of Technology in China. Ericsson also holds research co-operations within several European research programs such as GigaWam and OASE . Ericsson holds 33,000 granted patents and
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5504-513: Is projected to reach 1,079,213 by 2030. Of the inhabitants, 482,982 were men and 492,569 women. The average age is 39 years; 40.1% of the population is between 20 and 44 years. The marimonial statistics are that 411,273 people, or 42.2% of the population, over the age 15 were unmarried; 268,291 people, or 27.5% of the population, were married; and 104,099 or 10.7% of the population, had been married but divorced. As of December 2021, there were 252,750 foreign-born people in Stockholm, making up 25.8% of
5676-493: Is supported by the contrast in how the crisis progressed in, e.g., Britain, Argentina and Brazil, all of which devalued their currencies early and returned to normal patterns of growth relatively rapidly and countries which stuck to the gold standard , such as France or Belgium. Frantic attempts by individual countries to shore up their economies through protectionist policies – such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries – exacerbated
5848-530: Is the name of the local assembly. Its 101 councillors are elected concurrently with general elections , held at the same time as the elections to the Riksdag and county councils . The Council convenes twice every month at Stockholm City Hall , and the meetings are open to the public. The matters on which the councillors decide have generally already been drafted and discussed by various boards and committees. Once decisions are referred for practical implementation,
6020-839: Is the number-one holder of GSM/GPRS/EDGE, WCDMA/HSPA, and LTE essential patents. In 2023, the World Intellectual Property Organization (WIPO) ’s Annual PCT Review ranked Ericsson's number of patent applications published under the PCT System as 7th in the world, with 1,863 patent applications being published during 2023. Ericsson hosts a developer program called Ericsson Developer Connection designed to encourage development of applications and services. Ericsson also has an open innovation initiative for beta applications and beta API's & tools called Ericsson Labs. The company hosts several internal innovation competitions among its employees. In May 2022, it
6192-743: Is the official residence and principal workplace of the Swedish monarch, while Drottningholm Palace in neighbouring Ekerö serves as the Royal Family 's private residence. Stockholm's location appears in Norse sagas as Agnafit , and in Heimskringla in connection with the legendary king Agne . Birka , located near Stockholm, was one Sweden's major trade centres during the Viking Age , and its restored remains are one of Stockholm County 's most-visited sites. The earliest written mention of
6364-777: Is the seat of the Swedish government and most of its agencies , including the highest courts in the judiciary , and the official residences of the Swedish monarch and the Prime Minister . The government has its seat in the Rosenbad building, the Riksdag (Swedish parliament) is seated in the Parliament House , and the Prime Minister's residence is adjacent at the Sager House . Stockholm Palace
6536-539: The 1932 election , Hoover was defeated by Franklin D. Roosevelt , who from 1933 pursued a series of " New Deal " policies and programs to provide relief and create jobs, including the Civilian Conservation Corps , Federal Emergency Relief Administration , Tennessee Valley Authority , and Works Progress Administration . Historians disagree on the effects of the New Deal, with some claiming that
6708-459: The Age of Enlightenment in the late eighteenth century, the city flourished. The new monarch, Gustav III , proved an able and energetic regnant; his economic policies helped the Swedish economy develop, and his partially successful war against Russia restored some of Sweden's international reputation. The king was an avid patron of the arts, and scientists and cultural figures flocked to Stockholm on
6880-650: The Hanseatic League . Stockholm developed strong economic and cultural linkages with Lübeck , Hamburg , Gdańsk (Danzig), Visby , Tallinn (Reval), and Riga during this time. The strategic and economic importance of the city made Stockholm an important factor in relations between the Danish Kings of the Kalmar Union and the Swedish national independence movement in the fifteenth century and early sixteenth century. The Danish King Christian II
7052-582: The New York Bank of United States – which produced panic and widespread runs on local banks, and the Federal Reserve sat idly by while banks collapsed. Friedman and Schwartz argued that, if the Fed had provided emergency lending to these key banks, or simply bought government bonds on the open market to provide liquidity and increase the quantity of money after the key banks fell, all the rest of
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7224-493: The Stockholm Observatory , were founded. The early nineteenth century saw a major economic decline of Stockholm and Sweden as a whole, but by the second half of the nineteenth century, Stockholm had regained its leading economic role. New industries emerged with industrialisation and Stockholm was transformed into an important trade and service centre as well as a key gateway point within Sweden. The population also grew dramatically during this time, mainly through immigration . At
7396-511: The Stone Age , in the 6th millennium BC, and was founded as a city in 1252 by Swedish statesman Birger Jarl . The city serves as the county seat of Stockholm County . Stockholm is the cultural, media, political, and economic centre of Sweden. The Stockholm region alone accounts for over a third of the country's GDP , and is among the top 10 regions in Europe by GDP per capita . Considered
7568-528: The Swedish Museum of Natural History , as well as the botanical garden Bergianska trädgården . The Stockholm School of Economics , founded in 1909, is one of the few private institutions of higher education in Sweden, and is generally reckoned one of the most prestigious business schools in the world. In the fine arts , educational institutions include the Royal College of Music , which has
7740-530: The Wallenberg family , and some Swedish government backing. Marcus Wallenberg Jr. negotiated a deal with several Swedish banks to rebuild Ericsson financially. The banks gradually increased their possession of LM Ericsson "A" shares, while International Telephone & Telegraph (ITT) was still the largest shareholder. In 1960, the Wallenberg family bought ITT's shares in Ericsson, and has since controlled
7912-554: The Wireless Strategic Initiative , a consortium of four telecommunications suppliers in Europe – Ericsson, Nokia , Alcatel (France) and Siemens (Germany) – to develop and test new prototypes for advanced wireless communications systems. Later that year, the consortium partners invited other companies to join them in a Wireless World Research Forum in 2001. In December 1999, Microsoft and Ericsson announced
8084-539: The coming to power of Hitler's Nazi regime in January 1933. The world financial crisis now began to overwhelm Britain; investors around the world started withdrawing their gold from London at the rate of £2.5 million per day. Credits of £25 million each from the Bank of France and the Federal Reserve Bank of New York and an issue of £15 million fiduciary note slowed, but did not reverse,
8256-490: The largest urban area in the Nordic countries . Approximately 1 million people live in the municipality , with 1.6 million in the urban area , and 2.4 million in the metropolitan area . The city stretches across fourteen islands where Lake Mälaren flows into the Baltic Sea . Outside the city to the east, and along the coast, is the island chain of the Stockholm archipelago . The area has been settled since
8428-504: The 16th century. In 1625, the Great Stockholm Fire of 1625 destroyed the southwestern section of Stadsholmen , an island in the centre of Stockholm. The amount of destruction led to the beginning of the demolition of the Stockholm walls. Today, most of the younger city walls cannot be found anywhere above ground. However, parts of the northern city walls are preserved in the modern Museum of Medieval Stockholm . In 1710,
8600-447: The 1937 recession that interrupted it). The common view among most economists is that Roosevelt's New Deal policies either caused or accelerated the recovery, although his policies were never aggressive enough to bring the economy completely out of recession. Some economists have also called attention to the positive effects from expectations of reflation and rising nominal interest rates that Roosevelt's words and actions portended. It
8772-688: The 1990s, during the emergence of the Internet, Ericsson was regarded as slow to realize its potential and falling behind in the area of IP technology. But the company had established an Internet project in 1995 called Infocom Systems to exploit opportunities leading from fixed-line telecom and IT. CEO Lars Ramqvist wrote in the 1996 annual report that in all three of its business areas – Mobile Telephones and Terminals, Mobile Systems, and Infocom Systems – "we will expand our operations as they relate to customer service and Internet Protocol (IP) access (Internet and intranet access)". The growth of GSM , which became
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#17327727919388944-813: The British crisis. The financial crisis now caused a major political crisis in Britain in August 1931. With deficits mounting, the bankers demanded a balanced budget; the divided cabinet of Prime Minister Ramsay MacDonald's Labour government agreed; it proposed to raise taxes, cut spending, and most controversially, to cut unemployment benefits 20%. The attack on welfare was unacceptable to the Labour movement. MacDonald wanted to resign, but King George V insisted he remain and form an all-party coalition " National Government ". The Conservative and Liberals parties signed on, along with
9116-712: The City Executive Board. The Mayor holds a special position among the Vice Mayors, chairing both the Council of Mayors and the City Executive Board. The City Executive Board ( Swedish : Kommunstyrelsen ) is elected by the City Council and is equivalent to a cabinet . The City Executive Board renders an opinion in all matters decided by the council and bears the overall responsibility for follow-up, evaluation and execution of its decisions. The Board
9288-530: The Depression. Businessmen ignored the mounting national debt and heavy new taxes, redoubling their efforts for greater output to take advantage of generous government contracts. During World War I many countries suspended their gold standard in varying ways. There was high inflation from WWI, and in the 1920s in the Weimar Republic , Austria , and throughout Europe. In the late 1920s there
9460-826: The Digital Services unit, there is an m-Commerce offering, which focuses on service providers and facilitates their working with financial institutions and intermediaries. Ericsson has announced m-commerce deals with Western Union and African wireless carrier MTN. The unit is active in 180 countries; it supplies managed services, systems integration, consulting, network rollout, design and optimization, broadcast services, learning services and support. The company also works with television and media, public safety, and utilities. Ericsson claims to manage networks that serve more than 1 billion subscribers worldwide, and to support customer networks that serve more than 2.5 billion subscribers. Ericsson's Broadcast Services unit
9632-521: The Dow returning to 294 (pre-depression levels) in April 1930, before steadily declining for years, to a low of 41 in 1932. At the beginning, governments and businesses spent more in the first half of 1930 than in the corresponding period of the previous year. On the other hand, consumers, many of whom suffered severe losses in the stock market the previous year, cut expenditures by 10%. In addition, beginning in
9804-616: The European Union. The Stockholm Stock Exchange , founded in 1863, is the largest stock exchange in the Nordic Countries measured by market capitalisation, listing numerous multinational Swedish companies. Trade is a vital part of Stockholm's economy; the city's corporations are largely reliant on foreign consumers to supplement the small Swedish market. Stockholm is one of the Baltic Sea's larger ports, hosting especially cruise ships and yachts. Most of Stockholm's economy
9976-489: The Federal Reserve did not act to limit the decline of the money supply was the gold standard . At that time, the amount of credit the Federal Reserve could issue was limited by the Federal Reserve Act , which required 40% gold backing of Federal Reserve Notes issued. By the late 1920s, the Federal Reserve had almost hit the limit of allowable credit that could be backed by the gold in its possession. This credit
10148-510: The GSM standard and began testing it in 1996. Japanese operator NTT Docomo signed deals to partner with Ericsson and Nokia , who came together in 1997 to support WCDMA over rival standards. DoCoMo was the first operator with a live 3G network, using its own version of WCDMA called FOMA . Ericsson was a significant developer of the WCDMA version of GSM, while US-based chip developer Qualcomm promoted
10320-442: The Great Depression is right, or the traditional Keynesian explanation that a fall in autonomous spending, particularly investment, is the primary explanation for the onset of the Great Depression. Today there is also significant academic support for the debt deflation theory and the expectations hypothesis that – building on the monetary explanation of Milton Friedman and Anna Schwartz – add non-monetary explanations. There
10492-642: The Great Depression. According to the U.S. Senate website, the Smoot–Hawley Tariff Act is among the most catastrophic acts in congressional history. Many economists have argued that the sharp decline in international trade after 1930 helped to worsen the depression, especially for countries significantly dependent on foreign trade. Most historians and economists blame the Act for worsening the depression by seriously reducing international trade and causing retaliatory tariffs in other countries. While foreign trade
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#173277279193810664-417: The Internet using their telephones. Ericsson was working on ways to improve WCDMA as operators were buying and rolling it out; it was the first generation of 3G access. New advances included IMS (IP Multimedia Subsystem) and the next evolution of WCDMA, called High-Speed Packet Access (HSPA). It was initially deployed in the download version called HSDPA ; the technology spread from the first test calls in
10836-481: The New Deal prolonged the Great Depression, as they argue that National Industrial Recovery Act of 1933 and National Labor Relations Act of 1935 restricted competition and established price fixing. John Maynard Keynes did not think that the New Deal under Roosevelt single-handedly ended the Great Depression: "It is, it seems, politically impossible for a capitalistic democracy to organize expenditure on
11008-402: The Strategy and Technology Group of inCode, a North American business and consulting-services company; Nortel's majority shareholding (50% plus one share) in LG-Nortel, a joint venture between LG Electronics and Nortel Networks providing sales, R&D and industrial capacity in South Korea, now known as Ericsson -LG; further Nortel carrier-division assets, relating from Nortel's GSM business in
11180-491: The U.K. economy, which experienced an economic downturn throughout most of the late 1920s, was less severely impacted by the shock of the depression than the U.S. By contrast, the German economy saw a similar decline in industrial output as that observed in the U.S. Some economic historians attribute the differences in the rates of recovery and relative severity of the economic decline to whether particular countries had been able to effectively devaluate their currencies or not. This
11352-435: The U.S. unemployment rate down below 10%. World War II had a dramatic effect on many parts of the American economy. Government-financed capital spending accounted for only 5% of the annual U.S. investment in industrial capital in 1940; by 1943, the government accounted for 67% of U.S. capital investment. The massive war spending doubled economic growth rates, either masking the effects of the Depression or essentially ending
11524-557: The UK. The Nordic countries were also Ericsson customers; they were encouraged by the growth of telephone services in Sweden. Other countries and colonies were exposed to Ericsson products through the influence of their parent countries. These included Australia and New Zealand, which by the late 1890s were Ericsson's largest non-European markets. Mass production techniques were now firmly established; telephones were losing some of their ornate finish and decoration. Despite their successes elsewhere, Ericsson did not make significant sales in
11696-515: The US in late 2005 to 59 commercial networks in September 2006. HSPA would provide the world's first mobile broadband. In July 2016, Hans Vestberg stepped down as Ericsson's CEO after heading the company for six years. Jan Frykhammar, who had been working for the company since 1991 stepped in as interim CEO while Ericsson searched for a full-time replacement. On 16 January 2017, following Ericsson's announcement on 26 October 2016, new CEO Börje Ekholm started and interim CEO Jan Frykhammar stepped down
11868-585: The United States and Canada; Optimi Corporation, a U.S.–Spanish telecommunications vendor specializing in network optimization and management; and Pride, a consulting and systems-integration company operating in Italy. In 2011, Ericsson acquired manufacturing and research facilities, and staff from the Guangdong Nortel Telecommunication Equipment Company (GDNT) as well as Nortel's Multiservice Switch business. Ericsson acquired U.S. company Telcordia Technologies in January 2012, an operations and business support systems (OSS/BSS) company. In March, Ericsson announced it
12040-622: The United States, agricultural organizations sponsored programs to teach housewives how to optimize their gardens and to raise poultry for meat and eggs. Rural women made feed sack dresses and other items for themselves and their families and homes from feed sacks. In American cities, African American women quiltmakers enlarged their activities, promoted collaboration, and trained neophytes. Quilts were created for practical use from various inexpensive materials and increased social interaction for women and promoted camaraderie and personal fulfillment. Oral history provides evidence for how housewives in
12212-543: The United States, remained on the gold standard into 1932 or 1933, while a few countries in the so-called "gold bloc", led by France and including Poland, Belgium and Switzerland, stayed on the standard until 1935–36. According to later analysis, the earliness with which a country left the gold standard reliably predicted its economic recovery. For example, The UK and Scandinavia, which left the gold standard in 1931, recovered much earlier than France and Belgium, which remained on gold much longer. Countries such as China, which had
12384-590: The United States. AT&T ’s Western Electric Company (via the Bell System ), Kellogg and Automatic Electric dominated the market. Ericsson eventually sold its U.S. assets. Sales in Mexico led to inroads into South American countries. South Africa and China were also generating significant sales. With his company now multinational, Lars Ericsson stepped down from the company in 1901. Ericsson ignored
12556-638: The Wall Street crash, after which the slide continued for three years, which was accompanied by a loss of confidence in the financial system. By 1933, the U.S. unemployment rate had risen to 25 percent, about one-third of farmers had lost their land, and about half of the country's 25,000 banks had gone out of business. Many people, unable to pay mortgages or rent, became homeless and relied on begging or charities to feed themselves. The U.S. federal government initially did little to help. President Herbert Hoover , like many of his fellow Republicans , believed in
12728-406: The acquisition of Envivio , a software encoding company. In April 2016, Ericsson acquired Polish and Ukrainian operations of software development company Ericpol , a long-time supplier to Ericsson. Approximately 2,300 Ericpol employees joined Ericsson, bringing software development competence in radio, cloud, and IP. On 20 June 2017, Bloomberg disclosed that Ericsson hired Morgan Stanley to explore
12900-519: The alternative system CDMA2000 , building on the popularity of CDMA in the US market. This resulted in a patent infringement lawsuit that was resolved in March 1999 when the two companies agreed to pay each other royalties for the use of their respective technologies and Ericsson purchased Qualcomm's wireless infrastructure business and some R&D resources. Ericsson issued a profit warning in March 2001. Over
13072-568: The autumn the leaves change color. During the winter months, the trees lose their leaves. For details about the other municipalities in the Stockholm area, see the pertinent articles. North of Stockholm Municipality: Järfälla , Solna , Täby , Sollentuna , Lidingö , Upplands Väsby , Österåker , Sigtuna , Sundbyberg , Danderyd , Vallentuna , Ekerö , Upplands-Bro , Vaxholm , and Norrtälje . South of Stockholm: Huddinge , Nacka , Botkyrka , Haninge , Tyresö , Värmdö , Södertälje , Salem , Nykvarn and Nynäshamn . Stockholm Municipality
13244-460: The banks would not have fallen after the large ones did, and the money supply would not have fallen as far and as fast as it did. With significantly less money to go around, businesses could not get new loans and could not even get their old loans renewed, forcing many to stop investing. This interpretation blames the Federal Reserve for inaction, especially the New York branch . One reason why
13416-573: The beginning of the Depression. The Depression was preceded by a period of industrial growth and social development known as the " Roaring Twenties ". Much of the profit generated by the boom was invested in speculation , such as on the stock market , which resulted in growing wealth inequality . Banks were subject to minimal regulation under laissez-faire economic policies, resulting in loose lending and widespread debt. By 1929, declining spending had led to reductions in manufacturing output and rising unemployment . Share values continued to rise until
13588-465: The behavior of housewives. The common view among economic historians is that the Great Depression ended with the advent of World War II . Many economists believe that government spending on the war caused or at least accelerated recovery from the Great Depression, though some consider that it did not play a very large role in the recovery, though it did help in reducing unemployment. The rearmament policies leading up to World War II helped stimulate
13760-585: The city consist of fourteen islands that are continuous with the Stockholm archipelago . The geographical city centre is situated on the water, in Riddarfjärden bay. Over 30% of the city area is made up of waterways and another 30% is made up of parks and green spaces. Positioned at the eastern end of the Central Swedish lowland and near the Bergslagen region, the city's location reflects
13932-455: The city is said to have been founded by Birger Jarl to protect Sweden from sea invasions made by Karelians after the pillage of Sigtuna on Lake Mälaren in the summer of 1187. Stockholm's core, the present Old Town ( Gamla Stan ) was built on the central island next to Helgeandsholmen from the mid-13th century onward. The city originally rose to prominence as a result of the Baltic trade of
14104-478: The city of Stockholm, it is one of Sweden's most important buildings. As the primary financial centre in Sweden, Stockholm is an influential hub for trade, finance and technology in Europe , and one of Scandinavia's largest financial centres. The Stockholm region is the leading region in Sweden by both GDP and GDP per capita, and is amongst the ten wealthiest regions in the European Union when measured by
14276-540: The city's most prized museums, the Vasa Museum , is the most visited museum in Scandinavia. The Stockholm metro , opened in 1950, is well known for the decor of its stations; it has been called the longest art gallery in the world. The city was the host of the 1912 Summer Olympics , and has played host to several other international sports events since. Stockholm is Sweden's primary financial centre , one of
14448-462: The collapse in global trade, contributing to the depression. By 1933, the economic decline pushed world trade to one third of its level compared to four years earlier. While the precise causes for the occurrence of the Great depression are disputed and can be traced to both global and national phenomena, its immediate origins are most conveniently examined in the context of the U.S. economy, from which
14620-715: The coming year, sales to operators halved. Mobile telephones became a burden; the company's telephones unit made a loss of SEK 24 billion in 2000. A fire in a Philips chip factory in New Mexico in March 2000 caused severe disruption to Ericsson's phone production, dealing a coup de grâce to Ericsson's mobile phone hopes. Mobile phones would be spun off into a joint venture with Sony, Sony Ericsson Mobile Communications, in October 2001. Ericsson launched several rounds of restructuring, refinancing and job-cutting; during 2001, staff numbers fell from 107,000 to 85,000. A further 20,000 went
14792-685: The company appointed Michael Wallis-Brown as vice president responsible for global mobile financial services. As of 2016, members of the board of directors of LM Ericsson were: Leif Johansson , Jacob Wallenberg , Kristin S. Rinne, Helena Stjernholm, Sukhinder Singh Cassidy, Börje Ekholm, Ulf J. Johansson, Mikael Lännqvist, Zlatko Hadzic, Kjell-Åke Soting, Nora Denzel, Kristin Skogen Lund, Pehr Claesson, Karin Åberg and Roger Svensson. Ericsson has structured its R&D in three levels depending on when products or technologies will be introduced to customers and users. Its research and development organization
14964-476: The company by acquiring most of the shares. Wincrantz was partly funded by Ivar Kreuger , an international financier. The company was renamed Telefonaktiebolaget L M Ericsson . Kreuger started showing interest in the company, being a major owner of Wincrantz holding companies. Ericsson was saved from bankruptcy and closure with the help of banks including Stockholms Enskilda Bank (now Skandinaviska Enskilda Banken ) and other Swedish investment banks controlled by
15136-497: The company to Saab Microwave Systems . In 2007, Ericsson acquired carrier edge-router maker Redback Networks , and then Entrisphere, a US-based company providing fiber-access technology. In September 2007, Ericsson acquired an 84% interest in German customer-care and billing software firm LHS , a stake later raised to 100%. In 2008, Ericsson sold its enterprise PBX division to Aastra Technologies , and acquired Tandberg Television ,
15308-422: The company. In the 1920s and 1930s, the world telephone markets were being organized and stabilized by many governments. The fragmented town-by-town systems serviced by small, private companies that had evolved were integrated and offered for lease to a single company. Ericsson obtained some leases, which represented further sales of equipment to the growing networks. Ericsson got almost one-third of its sales under
15480-865: The control of Ericsson, after the fall of the Kreuger empire in the early 1930s. Ericsson is the inventor of Bluetooth technology. Lars Magnus Ericsson began his association with telephones in his youth as an instrument maker. He worked for a firm that made telegraph equipment for the Swedish government agency Telegrafverket . In 1876, at the age of 30, he started a telegraph repair shop with help from his friend Carl Johan Andersson in central Stockholm and repaired foreign-made telephones. In 1878, Ericsson began making and selling his own telephone equipment. His telephones were not technically innovative. In 1878, he agreed to supply telephones and switchboards to Sweden's first telecommunications operating company, Stockholms Allmänna Telefonaktiebolag. As production grew in
15652-557: The control of its telephone operating companies. Ericsson introduced the world's first fully automatic mobile telephone system, MTA , in 1956. It released one of the world's first hands-free speaker telephones in the 1960s. In 1954, it released the Ericofon . Ericsson crossbar switching equipment was used in telephone administrations in many countries. In 1983 the company introduced the ERIPAX suite of network products and services. In
15824-475: The crash was a mere symptom of more general economic trends of the time, which had already been underway in the late 1920s. A contrasting set of views, which rose to prominence in the later part of the 20th century, ascribes a more prominent role to failures of monetary policy . According to those authors, while general economic trends can explain the emergence of the downturn, they fail to account for its severity and longevity; they argue that these were caused by
15996-656: The creation of the mobile phone manufacturing joint venture: Sony Ericsson Mobile Communications . Ten years later, in February 2012, Ericsson sold its stake in the joint venture; Ericsson said it wanted to focus on the global wireless market as a whole. Lower stock prices and job losses affected many telecommunications companies in 2001. The major equipment manufacturers – Motorola (U.S.), Lucent Technologies (U.S.), Cisco Systems (U.S.), Marconi (UK), Siemens (Germany), Nokia (Finland), as well as Ericsson – all announced job cuts in their home countries and subsidiaries around
16168-625: The crisis, the U.S. Congress passed the Smoot–Hawley Tariff Act on 17 June 1930. The Act was ostensibly aimed at protecting the American economy from foreign competition by imposing high tariffs on foreign imports. The consensus view among economists and economic historians (including Keynesians , Monetarists and Austrian economists ) is that the passage of the Smoot–Hawley Tariff had, in fact, achieved an opposite effect to what
16340-415: The current municipal area. In the ensuing decades several other areas were incorporated (such as Brännkyrka Municipality in 1913, at which time it had 25,000 inhabitants, and Spånga in 1949). The municipal border was established in 1971; with the exception of Hansta, in 1982 purchased by Stockholm Municipality from Sollentuna Municipality and today a nature reserve. The population was 984,748 in 2022 and
16512-633: The decade. The Depression had devastating economic effects on both wealthy and poor countries: all experienced drops in personal income , prices ( deflation ), tax revenues, and profits. International trade fell by more than 50%, and unemployment in some countries rose as high as 33%. Cities around the world , especially those dependent on heavy industry , were heavily affected. Construction virtually halted in many countries, and farming communities and rural areas suffered as crop prices fell by up to 60%. Faced with plummeting demand and few job alternatives, areas dependent on primary sector industries suffered
16684-408: The depression. Not all governments enforced the same measures of protectionism. Some countries raised tariffs drastically and enforced severe restrictions on foreign exchange transactions, while other countries reduced "trade and exchange restrictions only marginally": The gold standard was the primary transmission mechanism of the Great Depression. Even countries that did not face bank failures and
16856-646: The design school Konstfack , founded in 1844, the University College of Opera (founded in 1968 but with older roots), the University College of Dance , and the Stockholms Musikpedagogiska Institut (the University College of Music Education). The Södertörn University was founded in 1995 as a multi-disciplinary institution for southern Metropolitan Stockholm , to balance the many institutions located in
17028-435: The domestic price level to decline ( deflation ). There is also consensus that protectionist policies, and primarily the passage of the Smoot–Hawley Tariff Act , helped to exacerbate, or even cause the Great Depression. Some economic studies have indicated that the rigidities of the gold standard not only spread the downturn worldwide, but also suspended gold convertibility (devaluing the currency in gold terms) that did
17200-402: The drop in demand. Monetarists believe that the Great Depression started as an ordinary recession, but the shrinking of the money supply greatly exacerbated the economic situation, causing a recession to descend into the Great Depression. Economists and economic historians are almost evenly split as to whether the traditional monetary explanation that monetary forces were the primary cause of
17372-643: The early orientation of Swedish trade toward the Baltic region. Stockholm belongs to the Temperate deciduous forest biome, which means the climate is very similar to that of the far northeastern area of the United States and coastal Nova Scotia in Canada . The average annual temperature is 7.9 °C (46 °F). The average rainfall is 531 mm (21 in) per year. The deciduous forest has four distinct seasons, spring, summer, autumn, and winter. In
17544-427: The economies of Europe in 1937–1939. By 1937, unemployment in Britain had fallen to 1.5 million. The mobilization of manpower following the outbreak of war in 1939 ended unemployment. The American mobilization for World War II at the end of 1941 moved approximately ten million people out of the civilian labor force and into the war. This finally eliminated the last effects from the Great Depression and brought
17716-499: The employees of the City administrations and companies take over. The elected majority has a Mayor and eight Vice Mayors. The Mayor and each majority Vice Mayor is the head of a department, with responsibility for a particular area of operation, such as City Planning. The opposition also has four Vice Mayors, but they hold no executive power. Together the Mayor and the 12 Vice Mayors form the Council of Mayors, and they prepare matters for
17888-576: The end of the month. A large sell-off of stocks began in mid-October. Finally, on 24 October, Black Thursday , the American stock market crashed 11% at the opening bell. Actions to stabilize the market failed, and on 28 October, Black Monday, the market crashed another 12%. The panic peaked the next day on Black Tuesday, when the market saw another 11% drop. Thousands of investors were ruined, and billions of dollars had been lost; many stocks could not be sold at any price. The market recovered 12% on Wednesday but by then significant damage had been done. Though
18060-505: The end of the nineteenth century, less than 40% of the residents were Stockholm-born, with most migrants being from poorer rural Sweden; major settlement began to expand outside the historical city limits. The nineteenth century also saw the establishment of a number of scientific institutes and universities, including the Karolinska Institutet and KTH Royal Institute of Technology . The General Art and Industrial Exposition
18232-454: The existing GSM network, in a form known as GPRS (General Packet Radio Service), but these services, known as 2.5G, were fairly rudimentary and did not achieve much mass-market success. The International Telecommunication Union (ITU) had prepared the specifications for a 3G mobile service that included several technologies. Ericsson pushed hard for the WCDMA (wideband CDMA ) form based on
18404-500: The explanations of the Keynesians and monetarists. The consensus among demand-driven theories is that a large-scale loss of confidence led to a sudden reduction in consumption and investment spending. Once panic and deflation set in, many people believed they could avoid further losses by keeping clear of the markets. Holding money became profitable as prices dropped lower and a given amount of money bought ever more goods, exacerbating
18576-503: The few women in the labor force, layoffs were less common in the white-collar jobs and they were typically found in light manufacturing work. However, there was a widespread demand to limit families to one paid job, so that wives might lose employment if their husband was employed. Across Britain, there was a tendency for married women to join the labor force, competing for part-time jobs especially. In France, very slow population growth, especially in comparison to Germany continued to be
18748-505: The first week of June, 540 million in the second, and 150 million in two days, 19–20 June. Collapse was at hand. U.S. President Herbert Hoover called for a moratorium on payment of war reparations . This angered Paris, which depended on a steady flow of German payments, but it slowed the crisis down, and the moratorium was agreed to in July 1931. An International conference in London later in July produced no agreements but on 19 August
18920-677: The following day. In June 2018, Ericsson, Inc. and Ericsson AB have agreed to pay $ 145,893 to settle potential civil liability for an apparent violation of the International Emergency Economic Powers Act (IEEPA) and the Sudanese Sanctions Regulations, 31 C.F.R. part 538 (SSR).1 Around 2000, companies and governments began to push for standards for mobile Internet. In May 2000, the European Commission created
19092-606: The government tried to reshape private household consumption under the Four-Year Plan of 1936 to achieve German economic self-sufficiency. The Nazi women's organizations, other propaganda agencies and the authorities all attempted to shape such consumption as economic self-sufficiency was needed to prepare for and to sustain the coming war. The organizations, propaganda agencies and authorities employed slogans that called up traditional values of thrift and healthy living. However, these efforts were only partly successful in changing
19264-435: The growth of automatic telephony in the United States and concentrated on manual exchange designs. Their first dial telephone was produced in 1921, although sales of the early automatic switching systems were slow until the equipment had proven itself on the world's markets. Telephones of this period had a simpler design and finish, and many of the early automatic desk telephones in Ericsson's catalogues were magneto styles with
19436-519: The home, or took boarders, did laundry for trade or cash, and did sewing for neighbors in exchange for something they could offer. Extended families used mutual aid—extra food, spare rooms, repair-work, cash loans—to help cousins and in-laws. In Japan, official government policy was deflationary and the opposite of Keynesian spending. Consequently, the government launched a campaign across the country to induce households to reduce their consumption, focusing attention on spending by housewives. In Germany,
19608-527: The initial crisis spread to the rest of the world. In the aftermath of World War I , the Roaring Twenties brought considerable wealth to the United States and Western Europe. Initially, the year 1929 dawned with good economic prospects: despite a minor crash on 25 March 1929, the market seemed to gradually improve through September. Stock prices began to slump in September, and were volatile at
19780-563: The lack of an adequate response to the crises of liquidity that followed the initial economic shock of 1929 and the subsequent bank failures accompanied by a general collapse of the financial markets. After the Wall Street Crash of 1929 , when the Dow Jones Industrial Average dropped from 381 to 198 over the course of two months, optimism persisted for some time. The stock market rose in early 1930, with
19952-458: The lack of student accommodations, the difficulty in finding other accommodations and the high rent. The Stockholm region is home to around 22% of Sweden's total population, and accounts for about 29% of its gross domestic product . The geographical notion of "Stockholm" has changed over time. By the turn of the 19th century, Stockholm largely consisted of the area today known as City Centre, roughly 35 km (14 sq mi) or one-fifth of
20124-420: The largest in Scandinavia, and hosts several of Sweden's largest companies. Furthermore, the headquarters of most of Sweden's largest banks are in Stockholm. Stockholm is one of Europe's major tech centres; the city has sometimes been called Europe's innovation hub. The Stockholm region has a GDP of around $ 180 billion, and Stockholm County has the highest GDP per capita of all counties in Sweden . Stockholm
20296-450: The largest investment firms in Europe are headquartered in the city, including Investor AB and Nordstjernan ; also headquartered in Stockholm is EQT AB . Stockholm is one of continental Europe's leading hubs for the technology industry; this influential industry is based in Kista , a suburb in northern Stockholm which is Europe's largest Informations and Technology cluster. Stockholm has
20468-569: The late 1890s, and the Swedish market seemed to be reaching saturation, Ericsson expanded into foreign markets through a number of agents. The UK ( Ericsson Telephones Ltd. ) and Russia were early markets, where factories were later established to improve the chances of gaining local contracts and augment the output of the Swedish factory. In the UK, the National Telephone Company was a major customer; by 1897 sold 28% of its output in
20640-565: The latter. Many of Sweden's largest companies are headquartered in the city; they are drawn by its central location, skilled workforce and preeminent financial sector. These companies include some of the Nordic region 's most valuable corporations, like Ericsson , which is one of the world's largest telecommunications companies, or Atlas Copco , which is one of the world's largest industrial companies; other large companies based in Stockholm include Electrolux , H&M and Securitas AB . Some of
20812-521: The market entered a period of recovery from 14 November until 17 April 1930, the general situation had been a prolonged slump. From 17 April 1930 until 8 July 1932, the market continued to lose 89% of its value. Despite the crash, the worst of the crisis did not reverberate around the world until after 1929. The crisis hit panic levels again in December 1930, with a bank run on the Bank of United States ,
20984-414: The mid-1930s, a severe drought ravaged the agricultural heartland of the U.S. Interest rates dropped to low levels by mid-1930, but expected deflation and the continuing reluctance of people to borrow meant that consumer spending and investment remained low. By May 1930, automobile sales declined to below the levels of 1928. Prices, in general, began to decline, although wages held steady in 1930. Then
21156-404: The modernism and functionalism movements survived this era of demolition. Throughout the century, many industries shifted away from industrial activities into more high-tech and service industry areas, which still dominate the city's economy today. Stockholm's metropolitan area has become one of the fastest-growing regions in Europe. In 2020 alone, Stockholm's population increased by 1,477. As
21328-423: The monetary base and by not injecting liquidity into the banking system to prevent it from crumbling, the Federal Reserve passively watched the transformation of a normal recession into the Great Depression. Friedman and Schwartz argued that the downward turn in the economy, starting with the stock market crash, would merely have been an ordinary recession if the Federal Reserve had taken aggressive action. This view
21500-435: The most precipitation falling in December and January (as either rain or snow). The average winter temperatures range from −3 to −1 °C (27 to 30 °F), and occasionally drop below −20 °C (−4 °F) in the outskirts of the city. Spring and autumn are generally cool to mild. The climate table below presents weather data from the years 1991–2020. According to ongoing measurements, the temperature has increased during
21672-502: The most to make recovery possible. Every major currency left the gold standard during the Great Depression. The UK was the first to do so. Facing speculative attacks on the pound and depleting gold reserves , in September 1931 the Bank of England ceased exchanging pound notes for gold and the pound was floated on foreign exchange markets. Japan and the Scandinavian countries followed in 1931. Other countries, such as Italy and
21844-427: The most. The outbreak of World War II in 1939 ended the Depression, as it stimulated factory production, providing jobs for women as militaries absorbed large numbers of young, unemployed men. The precise causes for the Great Depression are disputed. One set of historians, for example, focuses on non-monetary economic causes. Among these, some regard the Wall Street crash itself as the main cause; others consider that
22016-437: The name Stockholm dates from 1252, by which time the mines in Bergslagen made it an important site in the iron trade. The first part of the name ( stock ) means log in Swedish, although it may also be connected to an old German word ( Stock ) meaning fortification . The second part of the name ( holm ) means islet and is thought to refer to the islet Helgeandsholmen in central Stockholm. According to Erik's Chronicle
22188-582: The need to balance the national budget and was unwilling to implement expensive welfare spending . In 1930, Hoover signed the Smoot–Hawley Tariff Act , which taxed imports with the intention of encouraging buyers to purchase American products, which worsened the Depression because foreign governments retaliated with tariffs on American exports. In 1932, Hoover established the Reconstruction Finance Corporation , which offered loans to businesses and support to local governments. In
22360-432: The next year, and 11,000 more in 2003. A new rights issue raised SEK 30 billion to keep the company afloat. The company had survived as mobile Internet started growing. With record profits, it was in better shape than many of its competitors. The emergence of full mobile Internet began a period of growth for the global telecom industry, including Ericsson. After the launch of 3G services in 2003, people started to access
22532-785: The northern part of the region. Other institutes of higher education include the Military Academy Karlberg , the world's oldest military academy to remain in its original location, inaugurated in 1792 and housed in Karlberg Palace ; there is also the Swedish Defence University , Ersta Sköndal University College , Swedish School of Sport and Health Sciences and the University College Stockholm . The biggest complaints from students of higher education in Stockholm are
22704-477: The number of daylight hours is relatively small during winter – about six hours – while in June and the first half of July, the nights are relatively short, with about 18 hours of daylight. Due to its eastern position within Sweden's respective time zone, sunsets occur as early as 2:46 PM in mid-December. Around the summer solstice the sun never reaches further below the horizon than 7.3 degrees. This gives
22876-483: The physical volume of exports fall, but also the prices fell by about 1 ⁄ 3 as written. Hardest hit were farm commodities such as wheat, cotton, tobacco, and lumber. Governments around the world took various steps into spending less money on foreign goods such as: "imposing tariffs, import quotas, and exchange controls". These restrictions triggered much tension among countries that had large amounts of bilateral trade, causing major export-import reductions during
23048-480: The policies prolonged the Depression instead of shortening it. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%; in the U.S., the Depression resulted in a 30% contraction in GDP. Recovery varied greatly around the world. Some economies, such as the U.S., Germany and Japan started to recover by the mid-1930s; others, like France, did not return to pre-shock growth rates until later in
23220-406: The political situation in Europe. In their book, A Monetary History of the United States , Milton Friedman and Anna J. Schwartz also attributed the recovery to monetary factors, and contended that it was much slowed by poor management of money by the Federal Reserve System . Chairman of the Federal Reserve (2006–2014) Ben Bernanke agreed that monetary factors played important roles both in
23392-502: The population. Around 57.5% of them (143,167) immigrated to Sweden when they were at least 10 years old, and 109,213 (43.9%) of them were foreign citizens. The largest nationality groups among the foreign-born people were the Iraqis (16,137), followed by Finns (15,693), Iranians (12,329) and Poles (11,569). Of the population, 336,275 residents (34.4%) of Stockholm had a foreign-background. Great Depression The Great Depression
23564-535: The queen for several years prior to his death. Inventors, like Christopher Polhem , moved to the city during the time of the Swedish Empire. Academics also spent much time in Stockholm, like Olaus Rudbeck , rector of the Uppsala University . Throughout Sweden's history, walls were created in Stockholm to defend the city from attacks. These defensive walls were modified throughout the 13th to
23736-1112: The sale of its media businesses. The Red Bee Media business was kept in-house as an independent subsidiary company, as no suitable buyer was found, but a 51% stake of the remainder of the Media Solution division was sold to private equity firm One Equity Partners, the new company being named MediaKind. The transaction was completed on 31 January 2019. In February 2018, Ericsson acquired the location-based mobile data management platform Placecast. Ericsson has since integrated Placecast's platform and capabilities with its programmatic mobile ad subsidiary, Emodo . In May 2018, SoftBank partnered with Ericsson to trial new radio technology. In September 2020, Ericsson acquired US-based carrier equipment manufacturer Cradlepoint for $ 1.1 billion. In November 2021, Ericsson announced it had reached an agreement to acquire Vonage for $ 6.2 billion. The acquisition completed in July 2022. In January 2024, Ericson and MTN Group announced expansion of their partnership to boost their mobile financial services on Africa market, as
23908-434: The scale necessary to make the grand experiments which would prove my case—except in war conditions." According to Christina Romer , the money supply growth caused by huge international gold inflows was a crucial source of the recovery of the United States economy, and that the economy showed little sign of self-correction. The gold inflows were partly due to devaluation of the U.S. dollar and partly due to deterioration of
24080-603: The second most unicorns per capita in the world, after Silicon Valley; the city also has one of the highest startup rates in Europe. Prominent startup technology companies in Stockholm include Mojang , Spotify and Klarna ; the latter two either have been or are among the largest startup companies in the world. Most of Sweden's largest banks are headquartered in the city, including the SEB Group , Handelsbanken and Swedbank ; Nordea had its headquarters in Stockholm until moving to Helsinki in 2018 for legal reasons involving
24252-489: The sixth-largest semiconductor supplier and a subsidiary of Siemens ) bought Ericsson's microelectronics unit for $ 400 million. Ericsson was an official backer in the 2005 launch of the .mobi top-level domain created specifically for the mobile internet . Co-operation with Hewlett-Packard did not end with EHPT ; in 2003 Ericsson outsourced its IT to HP, which included Managed Services, Help Desk Support, Data Center Operations, and HP Utility Data Center. The contract
24424-495: The sky a bright blue colour in summer once the sun has set because it does not get any darker than nautical twilight . Also, when looking straight up towards the zenith , few stars are visible after the sun has gone down. This is not to be confused with the midnight sun , which occurs north of the Arctic Circle , around 7 degrees farther north. The Stockholm Municipal Council ( Swedish : Stockholms kommunfullmäktige )
24596-527: The television technology division of Norwegian company Tandberg . == In 2009, Ericsson bought the CDMA2000 and LTE business of Nortel 's carrier networks division for US$ 1.18 billion; Bizitek, a Turkish business support systems integrator; the Estonian manufacturing operations of electronic manufacturing company Elcoteq ; and completed its acquisition of LHS. Acquisitions in 2010 included assets from
24768-452: The town square Sergels torg ) is the largest shopping district in Sweden . It is the most central part of Stockholm in business and shopping. Stockholm has a humid continental climate in the 0 °C isotherm ( Köppen : Dfb ) bordering on an oceanic climate ( Cfb ) in the -3 °C isotherm. Although winters are cold, average temperatures generally remain above 0 °C for much of
24940-867: The warmest July months of the Nordic capitals. Stockholm has an annual average snow cover between 75 and 100 days. Despite its mild climate, Stockholm is located further north than parts of Canada that are above the Arctic tree line at sea level. Summers average daytime high temperatures of 20–25 °C (68–77 °F) and lows of around 13 °C (55 °F), but temperatures can reach 30 °C (86 °F) on some days. Days above 30 °C (86 °F) occur on average 1.55 days per year (1992–2011). Days between 25 °C (77 °F) and 30 °C (86 °F) are relatively common especially in July and August. Night-time lows of above 20 °C (68 °F) are rare, and hot summer nights vary from 17 to 18 °C (63 to 64 °F). Winters generally bring cloudy weather with
25112-470: The world's largest semiconductor chip manufacturer, signed a $ 1.5 billion deal to supply flash memory to Ericsson over the next three years. The short-lived partnership, called Ericsson Microsoft Mobile Venture, owned 70/30 percent by Ericsson and Microsoft respectively, ended in October 2001 when Ericsson announced it would absorb the former joint venture and adopt a licensing agreement with Microsoft instead. The same month, Ericsson and Sony announced
25284-476: The world, recovery from the Great Depression began in 1933. In the U.S., recovery began in early 1933, but the U.S. did not return to 1929 GNP for over a decade and still had an unemployment rate of about 15% in 1940, albeit down from the high of 25% in 1933. There is no consensus among economists regarding the motive force for the U.S. economic expansion that continued through most of the Roosevelt years (and
25456-673: The world. The financial crisis escalated out of control in mid-1931, starting with the collapse of the Credit Anstalt in Vienna in May. This put heavy pressure on Germany, which was already in political turmoil. With the rise in violence of National Socialist ('Nazi') and Communist movements, as well as investor nervousness at harsh government financial policies, investors withdrew their short-term money from Germany as confidence spiraled downward. The Reichsbank lost 150 million marks in
25628-496: The world. Ericsson's workforce worldwide fell during 2001 from 107,000 to 85,000. In September 2001, Ericsson purchased the remaining shares in EHPT from Hewlett-Packard . Founded in 1993, Ericsson Hewlett Packard Telecom (EHPT) was a joint venture made up of 60% Ericsson interests and 40% Hewlett-Packard interests. In 2002, ICT investor losses topped $ 2 trillion and share prices fell by 95% until August that year. More than half
25800-778: The worldwide economic decline and eventual recovery. Bernanke also saw a strong role for institutional factors, particularly the rebuilding and restructuring of the financial system, and pointed out that the Depression should be examined in an international perspective. Women's primary role was as housewives; without a steady flow of family income, their work became much harder in dealing with food and clothing and medical care. Birthrates fell everywhere, as children were postponed until families could financially support them. The average birthrate for 14 major countries fell 12% from 19.3 births per thousand population in 1930, to 17.0 in 1935. In Canada, half of Roman Catholic women defied Church teachings and used contraception to postpone births. Among
25972-399: The year. Summers are pleasantly warm, and precipitation occurs throughout the year. Due to the city's high northerly latitude, the length of the day varies widely from more than 18 hours around midsummer to only around 6 hours in late December. The nights from late May until mid-July are not completely dark even when cloudy. Stockholm has relatively mild weather compared to other locations at
26144-405: The year. The precipitation is not uniformly distributed throughout the year. The second half of the year receives 50% more than the first half. Snowfall occurs mainly from December through March. Snowfall may occasionally occur in late October as well as in April. In Stockholm, the aurora borealis can occasionally be observed. Stockholm's location just south of the 60th parallel north means that
26316-451: The years 1991–2020 as compared with the last series, from 1961 to 1990. This increase averages about 1.0 °C (1.8 °F) over all months. Warming is most pronounced during the winter months, with an increase of more than 2.0 °C (3.6 °F) in January. For the 2002–2014 measurements some further increases have been found, although some months such as June have been relatively flat. The highest temperature ever recorded in Stockholm
26488-464: Was 36 °C (97 °F) on 3 July 1811; the lowest was −32 °C (−26 °F) on 20 January 1814. The temperature has not dropped to below −25.1 °C (−13.2 °F) since 10 January 1987. The warmest month ever recorded was July 2018 with a mean temperature of 22.5 °C (72.5 °F) which is also the nationwide record. Annual precipitation is 546.4 mm (21.51 in) with around 170 wet days and light to moderate rainfall throughout
26660-466: Was a joint venture with Sony that merged the previous mobile telephone operations of both companies. It manufactured mobile telephones, accessories and personal computer (PC) cards. Sony Ericsson was responsible for product design and development, marketing, sales, distribution and customer services. On 16 February 2012, Sony announced it had completed the full acquisition of Sony Ericsson, after which it changed name to Sony Mobile Communications, and nearly
26832-658: Was a scramble to deflate prices to get the gold standard's conversation rates back on track to pre-WWI levels, by causing deflation and high unemployment through monetary policy. In 1933 FDR signed Executive Order 6102 and in 1934 signed the Gold Reserve Act . The two classic competing economic theories of the Great Depression are the Keynesian (demand-driven) and the Monetarist explanation. There are also various heterodox theories that downplay or reject
27004-443: Was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty; drastic reductions in liquidity , industrial production, and trade; and widespread bank and business failures around the world. The economic contagion began in 1929 in the United States , the largest economy in the world, with the devastating Wall Street stock market crash of October 1929 often considered
27176-478: Was a small part of overall economic activity in the U.S. and was concentrated in a few businesses like farming, it was a much larger factor in many other countries. The average ad valorem (value based) rate of duties on dutiable imports for 1921–1925 was 25.9% but under the new tariff it jumped to 50% during 1931–1935. In dollar terms, American exports declined over the next four years from about $ 5.2 billion in 1929 to $ 1.7 billion in 1933; so, not only did
27348-602: Was able to enter the city in 1520 and on 8 November of that year, a massacre of opposition figures called the Stockholm Bloodbath took place and set off further uprisings that eventually led to the breakup of the Kalmar Union with the attainment of Swedish independence. With the accession of Gustav Vasa in 1523 and the establishment of royal power, the population of Stockholm began to grow, reaching 10,000 by 1600. The seventeenth century saw Sweden grow into
27520-1219: Was announced that Ericsson and Intel are pooling R&D excellence to create high-performing Cloud RAN solutions. The organisations have pooled to launch a tech hub in California, USA. The hub focuses on the benefits that Ericsson Cloud RAN and Intel technology can bring to: improving energy efficiency and network performance, reducing time to market, and monetizing new business opportunities such as enterprise applications. Ericsson's business includes technology research, development, network systems and software development, and running operations for telecom service providers. and software Ericsson offers end-to-end services for all major mobile communication standards, and has three main business units. Business Area Networks, previously called Business Unit Networks, develop network infrastructure for communication needs over mobile and fixed connections . Its products include radio base stations, radio network controllers , mobile switching centers and service application nodes . Operators use Ericsson products to migrate from 2G to 3G and, most recently, to 4G networks. The company's network division has been described as
27692-467: Was buying the broadcast-services division of Technicolor , a media broadcast technology company. In April 2012 Ericsson completed the acquisition of BelAir Networks a strong Wi-Fi network technology company. On 3 May 2013, Ericsson announced it would divest its power cable operations to Danish company NKT Holding . On 1 July 2013, Ericsson announced it would acquire the media management company Red Bee Media , subject to regulatory approval. The acquisition
27864-522: Was completed on 9 May 2014. In September 2013, Ericsson completed its acquisition of Microsoft's Mediaroom business and televisions services, originally announced in April the same year. The acquisition makes Ericsson the largest provider of IPTV and multi-screen services in the world, by market share; it was renamed Ericsson Mediaroom . In September 2014, Ericsson acquired majority stake in Apcera for cloud policy compliance. In October 2015, Ericsson completed
28036-474: Was endorsed in 2002 by Federal Reserve Governor Ben Bernanke in a speech honoring Friedman and Schwartz with this statement: Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression, you're right. We did it. We're very sorry. But thanks to you, we won't do it again. The Federal Reserve allowed some large public bank failures – particularly that of
28208-559: Was evolved into a unit called Red Bee Media , which has been spun out into a joint venture. It deals with the playout of live and pre-recorded, commercial and public service television programmes, including presentation (continuity announcements), trailers , and ancillary access services such as closed-caption subtitles , audio description and in-vision sign language interpreters. Its media management services consist of Managed Media Preparation and Managed Media Internet Delivery. Sony Ericsson Mobile Communications AB (Sony Ericsson)
28380-454: Was extended in 2008. In October 2005, Ericsson acquired the bulk of the troubled UK telecommunications manufacturer Marconi Company , including its brand name that dates back to the creation of the original Marconi Company by the "father of radio" Guglielmo Marconi . In September 2006, Ericsson sold the greater part of its defense business Ericsson Microwave Systems , which mainly produced sensor and radar systems, to Saab AB , which renamed
28552-473: Was founded in 1827 and is Scandinavia's largest higher education institute of technology with 13,000 students; it is Sweden's foremost polytechnic, and spearheaded several governmental research projects in the twentieth century. Stockholm University , founded in 1878 with university status granted in 1960, has 52,000 students as of 2008 . It also incorporates historical institutions, such as the Observatory,
28724-426: Was given by American economists Milton Friedman and Anna J. Schwartz . They argued that the Great Depression was caused by the banking crisis that caused one-third of all banks to vanish, a reduction of bank shareholder wealth and more importantly monetary contraction of 35%, which they called "The Great Contraction ". This caused a price drop of 33% ( deflation ). By not lowering interest rates, by not increasing
28896-553: Was held in 1897, drawing international attention. From 1887 to 1953 the Old Stockholm telephone tower was a landmark; originally built to link phone lines, it became redundant after these were buried, and it was later used for advertising before its demolition in the twentieth century. The early twentieth century also saw the creation of the Nobel Prizes , some of Stockholm's most renowned institutions. Stockholm became
29068-500: Was in the form of Federal Reserve demand notes. A "promise of gold" is not as good as "gold in the hand", particularly when they only had enough gold to cover 40% of the Federal Reserve Notes outstanding. During the bank panics, a portion of those demand notes was redeemed for Federal Reserve gold. Since the Federal Reserve had hit its limit on allowable credit, any reduction in gold in its vaults had to be accompanied by
29240-446: Was intended. It exacerbated the Great Depression by preventing economic recovery after domestic production recovered, hampering the volume of trade; still there is disagreement as to the precise extent of the Act's influence. In the popular view, the Smoot–Hawley Tariff was one of the leading causes of the depression. In a 1995 survey of American economic historians, two-thirds agreed that the Smoot–Hawley Tariff Act at least worsened
29412-479: Was replaced eventually by Stockholm Palace ; the time of the Swedish Empire also saw several architectural modernisations of the city. The beginning of the Swedish Empire saw a renaissance in the arts and sciences; the new queen, Christina , was a strong supporter of science and culture. Réne Descartes , one of the most prominent European philosophers of his time, died in Stockholm; he had been hosted by
29584-470: Was the rollback of those same reflationary policies that led to the interruption of a recession beginning in late 1937. One contributing policy that reversed reflation was the Banking Act of 1935 , which effectively raised reserve requirements, causing a monetary contraction that helped to thwart the recovery. GDP returned to its upward trend in 1938. A revisionist view among some economists holds that
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