##### Table of Contents

 

 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

 

**
 
**

**FORM 20-F**

 

**
 
**

**or**

 

**For the Fiscal Year Ended December 31, 2011**

**or**

 

**For the transition period from/to**

**or**

 

**Date of event requiring this shell company report:**

**Commission file number 000–12033**

 

**
 
**

**TELEFONAKTIEBOLAGET LM ERICSSON**

**(Exact Name of Registrant as Specified in Its Charter)**

**LM ERICSSONTELEPHONE COMPANY**

**(Translation of Registrant’s Name Into English)**

 

**
 
**

**Kingdom of Sweden**

**(Jurisdiction of Incorporation or Organization)**

**SE-164 83 Stockholm,Sweden**

**(Address of Principal Executive Offices)**

**Roland Hagman, Vice President Group Function Financial Control**

**Telephone: +46 8 719 53 80, Facsimile: +46 8 719 42 22**

**SE-164 83 Stockholm, Sweden**

**(Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person)**

 

**
 
**

**Securitiesregistered or to be registered pursuant to Section 12(b) of the Act:**

 

 

**Securities registered pursuant to Section 12(g) of the Act:**

**None**

**Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:**

**None**

 

**
 
**

Indicate thenumber of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the Annual Report: 

 

Indicate by check mark if the registrant is a well-seasoned issuer, as defined in Rule 405 of theSecurities Act.    Yes  x     No   ̈

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant toSection 13 or 15(d) of the Securities Exchange Act of 1934.    Yes   ̈    No  x

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days.    Yes  x    No   ̈

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every InteractiveData File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post suchfiles).    Yes   ̈    No   ̈

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. Seedefinition of “accelerated filer” and “large accelerated filer” in Rule 12b-2 of the Exchange Act. 

x   Large accelerated filer              ̈  Accelerated filer             ̈  Non-accelerated filer 

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: 

US GAAP    ̈    International Financial ReportingStandards as issued by the International Accounting Standards Board  x    Other   ̈

Indicate by check mark which financial statement item the registrant has elected tofollow.    Item 17   ̈    Item 18  x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes   ̈    No  x

 

 

 

Table of Contents
ERICSSON ANNUAL REPORT ON FORM 20-F 2011 

 
 

 

**This annual report discloses and includes references to financial measures that may not be prepared or presented in accordance with IFRS, and we referto these measures as non-IFRS measures. Reconciliations of these non-IFRS measures to the most relevant comparable IFRS measures can be found on page 41 and pages 242–245 of the annual report.**

 

 

**CONTENTS**

 

FORM 20-F 2011 CROSS REFERENCE TABLE
   i  
LETTER FROM THE CEO
   1  
THE MARKET
   5  
OUR BUSINESS
   7  
HOW WE STAY AHEAD
   9  
OPERATOR PORTFOLIO
   11  
2011 HIGHLIGHTS
   17  
FIVE-YEAR SUMMARY
   19  
SHARE INFORMATION
   20  
LETTER FROM THE CHAIRMAN
   28  
BOARD OF DIRECTORS’ REPORT
   30  
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
   70  
CONSOLIDATED FINANCIAL STATEMENTS
   71  
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
   76  
RISK FACTORS
   163  
FORWARD-LOOKING STATEMENTS
   175  
CORPORATE GOVERNANCE REPORT 2011
   177  
REMUNERATION REPORT
   214  
UNCERTAINTIES IN THE FUTURE
   222  
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
   223  
SUPPLEMENTAL INFORMATION
   224  
RECONCILIATIONS TO IFRS
   242  
GLOSSARY
   246  
FINANCIAL TERMINOLOGY
   249  
SHAREHOLDER INFORMATION
   252  
SIGNATURES
   256  
 
Table of Contents
ERICSSON ANNUAL REPORT ON FORM 20-F 2011 

 
**FORM 20-F 2011 CROSS REFERENCE TABLE**

*Our Annual Report on Form 20-F consists of the English version of our Swedish Annual Report for 2011, with certainadjustments made to comply with U.S. requirements, together with certain other information required by Form 20-F which is set forth under the heading Supplemental Information. The following cross reference table indicates where information requiredby Form 20-F may be found in this document.*

 

**Form 20-F Item Heading**
  
**Location in Document**
  **Page**