The IT bubble is the IT bubble, and of course, we became a company that contracted dramatically in 2001 and 2002: we basically came down by 45,000 people - a dramatic ramp-down.

What was really tough for me was that Lars Magnus Ericsson founded Ericsson in 1876; we've always had a consumer product. And I'm the 16th CEO of Ericsson, and I decided that we don't have any consumer products anymore.

When I came into the CEO office, I basically changed the entire management team. We knew that we had to change the company, so we needed a new set of leaders.

Hans Vestberg Quotes