Ericsson (Telefonaktiebolaget L. M. Ericsson) is a Swedish telecommunications equipment manufacturer, founded in 1876 as a telegraph equipment repair shop by Lars Magnus Ericsson. In the early 20th century, Ericsson dominated the world market for manual telephone exchanges but was late to introduce automatic equipment. The world's largest ever manual telephone exchange, serving 60,000 lines, was installed by Ericsson in Moscow in 1916. Throughout the 1990s, Ericsson has held a 35-40 percent market share of installed cellular telephone systems.
Like most of the telecommunications equipment industry, Ericsson has suffered heavy losses after the telecommunications crash in the early years of the 2000s. They have retrenched thousands of staff worldwide in an attempt to staunch the losses.