Both Borje Ekholm, the President and CEO of Ericsson, and O2 CEO Mark Evans, have reassured the public everything is being done to correct the faults.
Customers, understandably, have been somewhat disgruntled as a result, particularly given the length of time that it has taken the company to fix the problem - although not all customers. Earlier media reports suggested that networks of O2 in Britain and SoftBank in Japan have suffered network outages due to the software error.
Voice calls are working OK.
The company blamed a software issue affecting a third-party supplier for the outage.
"Our technical teams will continue working hard with Ericsson engineers to restore 4G, which will bring us back to full network service", O2 said on Thursday night.
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Meng is a prominent member of Chinese society as deputy chairman of the board and the daughter of company founder Ren Zhengfei. Michael Antonelli, a trader at Wisconsin-based investment bank RW Baird, said: 'Everything feels out of control right now'.
According to Ericsson, the issues were within nodes in the core network, which rippled out to affect "a limited number of customers" using particular software versions from the country.
It comes as O2, Tesco Mobile and Sky Mobile customers across the United Kingdom experience problems with mobile data services. Work is now ongoing to fix the fault and customers are being encouraged to use wi-fi where possible.
An additional seven million customers of Sky, Tesco, Giffgaff, and Lycamobile, which O2 provides services for, are also impacted.
The outage was "caused by Ericsson-made software errors related to its packet switches, covering our customers nationwide", SoftBank explained.
It said most of the affected customers' network services have been successfully restored during the course of the day, and it was working closely with the remaining customers still experiencing issues.