STOCKHOLM (AP) — Swedish mobile networks company Ericsson says "negative industry trends have further accelerated," contributing to a third-quarter loss for the company of 233 million kroner ($26.3 million). The group said Friday that revenue dropped 14 percent to 51.1 billion kronor ($5.8 billion) from 59.2 billion kronor amid fierce Asian competition and a slowing telecom equipment market.

Topics:  stockholm ap     swedish   ericsson   asian   loss   industry   billion   company   million   kronor   
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  • Sweden’s Ericsson denies exiting China market despite 5G equipment competition from Huawei, geopolitical tensions
    Headcount in China fell nearly 8 per cent to 9,950 from 10,791. In response to a Post inquiry, Ericsson declined to provide details on the lay-offs. "Ericsson continually makes normal business ...
    03/12/2024 - 11:09 pm | View Link
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