A voice for newcomers in Sweden

Worse-than-expected losses for telecom giant Ericsson

Börje Ekholm, CEO of Ericsson. Photo: Adam Wrafter/SvD/TT

Published: 20.Oct.2017 11:24 hrs

Swedish telecoms giant Ericsson warned of a tough outlook ahead, reporting disappointing third quarter results on Friday.

After a poor 2016 saw net profits fall 86 percent, Ericsson has still not managed to staunch the flow of bad news as it attempts to ramp up sagging investment in its network infrastructure, its core business.

The net loss for July-September came in at 4.4 billion kronor ($540 million) compared with a 233 million loss a year earlier and well above average forecasts of 3.5 billion.

Read full article on The Local

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