24 Apr 2010

Sales and profit down for Ericsson

7:43 am on 24 April 2010

Ericsson has reported a fall in first-quarter profit and sales.

Excluding joint ventures and restructuring costs, operating profit for the Swedish telecoms equipment group was 4.5 billion Swedish crowns ($US625 million) against 4.7 billion crowns a year ago.

First quarter sales were 45.1 billion crowns, a drop of 9% from the year before.

Last month, Ericsson announced deals with China Mobile and China Unicom worth a combined $US1.8 billion.

The BBC reports Ericsson will provide China Mobile, the world's biggest mobile operator, with equipment to boost the capacity of its mobile network. It will supply China Unicom with a faster 3G network.