Feb. 21 (Bloomberg) -- Ericsson AB, the world’s largest maker of wireless networking equipment, renamed its Multimedia business unit as the Support Solutions division after strengthening services for billing and charging systems.
The unit will include mobile commerce systems such as electronic wallets integrated with calling accounts, Stockholm- based Ericsson said in a statement. It is shutting a consumer money transfer service opened last year and announced a suite of new mobile wallet products.
In January, Ericsson completed its purchase of Telcordia, a Bell Labs spinoff that makes charging and billing systems, to expand in information systems for telephone companies. Billing is increasingly central to phone companies’ strategy as they seek to maximize profits from consumer use of Internet services such as Facebook and video.
“We will capture the growth momentum in selected areas and leverage our acquisition of Telcordia,” said Per Borgklint, who heads the division. “We already have a leading position in key areas such as charging and billing where we serve 1.6 billion people with our solutions.”
Ericsson’s television and media products for operators and content owners will continue to be part of the unit, the company said.
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