• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Nokia to receive $97 million in damages from Ericsson

4 years ago
in Business, highlights, Home, home-news, latest News, Technology
1 min read
0 0
0
40
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Telecoms gear maker Ericsson has reached an agreement with Finland’s Nokia to pay a damages claim of 80 million euros (US$97 million), it said on Wednesday.

Ericsson said the settlement followed investigations by the U.S. Department of Justice (DoJ) into corruption, including the bribing of government officials. It settled with the DoJ in 2019 and agreed to pay over $1 billion in penalties.

The DoJ had said that Ericsson admitted to conspiring with others to violate the Foreign Corrupt Practices Act from at least 2000 to 2016 by engaging in a scheme to pay bribes and to falsify books and records and by failing to implement reasonable internal accounting controls.

Ericsson said on Wednesday the settlement would impact operating profit (EBIT) by 80 million euros and cashflow by 26 million euros in the second quarter.“The amount reflects uncertainty, risk, expense, and potential distraction from business focus associated with a potentially lengthy and complex litigation,” it said in a statement.

The Swedish company added that the remainder of the settlement amount would be made in similar instalments in 2022 and 2023, impacting cash flow.

“Nokia can confirm that the information in Ericsson’s press release is accurate. We have no further comment,” a spokeswoman said.

Ericsson did not immediately respond to requests for further comment.

RelatedPosts

UEFA Champions League Matchday 3: Key stats and what to look out for in every game

GPL: Gold Stars ends Heart of Lions’ Unbeaten run as Karela hold Eleven Wonders in Swedru

BudgIT Ghana Calls for Deeper Reforms Following 2024 Open Parliament Index Release

Tags: EricssonNokia
No Result
View All Result

Highlights

Global Economy Undergoing Profound Transformation Amid Heightened Uncertainty, Says IMFC Chair

Fitch Solutions Revises Ghana’s 2025 Growth Forecast Upwards to 4.9% on Easing Inflation and Stronger Cedi

Nigeria, Kenya Follow Ghana’s Trailblazing GoldBod to Strengthen Economies

Morocco Crowned World Champions at the FIFA U-20 World Cup

GPL: Gold Stars Seek Redemption, Eleven Wonders Hunt First Win in Super Monday Doubleheader

OMCs Begin Over 4% Fuel Price Reductions Amid Cedi Gains and Decline in Global Oil Prices

Trending

Features

UEFA Champions League Matchday 3: Key stats and what to look out for in every game

October 21, 2025

UEFA Champions League Matchday 3: Key stats and what to look out for in every game The...

GPL: Gold Stars ends Heart of Lions’ Unbeaten run as Karela hold Eleven Wonders in Swedru

October 21, 2025

BudgIT Ghana Calls for Deeper Reforms Following 2024 Open Parliament Index Release

October 20, 2025

Global Economy Undergoing Profound Transformation Amid Heightened Uncertainty, Says IMFC Chair

October 20, 2025

Fitch Solutions Revises Ghana’s 2025 Growth Forecast Upwards to 4.9% on Easing Inflation and Stronger Cedi

October 20, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.