Ericsson expects global 5G subscriptions to surpass 1 billion in 2022

• The company said a weaker global economy and Russia’s invasion of Ukraine impacted the forecast

Ericsson (NASDAQ: ERIC) said on Tuesday it expects global 5G mobile subscriptions to surpass 1 billion in 2022.

In the company’s biannual Mobility Report, Ericsson said a weaker global economy and the uncertainties caused by Russia’s invasion of Ukraine have impacted our global estimate for 2022 by around 100 million, and the forecast has been adjusted accordingly.

Ericsson forecasts North America to lead the world in 5G subscription penetration in the next five years with nine-of-every-ten subscriptions in the region expected to be 5G in 2027.