| Thread Tools |
23rd April 2020, 07:41 | #1 |
[M] Reviewer Join Date: May 2010 Location: Romania
Posts: 148,931
| Ericsson doing well thanks to 5G Going a viking on the rivals Ericsson posted better than expected quarterly earnings on strong demand for 5G network equipment even as the coronavirus made a mess of other parts of the company. The Son of Eric warned of sales weakness ahead, but its results emphasised Ericsson’s ability to withstand pandemic-related pressures that have slammed the brakes on other industries globally. Chief Executive Borje Ekholm said: “There is near-term uncertainty around sales volumes due to COVID-19 and the macroeconomic situation, but with current visibility we have no reason to change our financial targets for 2020 and 2022." Sequential sales growth in the second quarter will be lower than normal because of disruption to supply chains and the global economic slowdown, Ericsson said, adding that there have been no material effects so far on demand. Ekholm has driven a turnaround at Ericsson during his three years at the helm, improving profit margins amid growing demand for next-generation 5G equipment. Ericsson increased its market share in China, and expects the new contracts to weigh on profitability in the second quarter rather than being evenly distributed over the year. In China, Ericsson beat Finnish rival Nokia to 5G contracts from China Mobile, the world’s largest telecoms company. https://fudzilla.com/news/50698-eric...l-thanks-to-5g |
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
BT gives 5G core contract to Ericsson | Stefan Mileschin | WebNews | 0 | 21st April 2020 14:46 |
Ericsson on track for 5G | Stefan Mileschin | WebNews | 0 | 18th July 2019 07:59 |
Ericsson boss to quit | Stefan Mileschin | WebNews | 0 | 6th July 2017 09:32 |
Ericsson does worse than expected | Stefan Mileschin | WebNews | 0 | 26th April 2017 17:47 |
Ericsson sues Apple | Stefan Mileschin | WebNews | 0 | 2nd March 2015 06:21 |
Apple takes on Ericsson in phone row | Stefan Mileschin | WebNews | 0 | 15th January 2015 07:23 |
Ericsson T28z review | Stefan Mileschin | WebNews | 0 | 2nd April 2013 08:08 |
Samsung complains to US ITC over Ericsson | Stefan Mileschin | WebNews | 0 | 26th December 2012 12:44 |
Ericsson has a crack at banning Samsung | Stefan Mileschin | WebNews | 0 | 5th December 2012 08:24 |
Ericsson shows off its 4G LTE technology | Shogun | WebNews | 0 | 7th April 2008 06:53 |
Thread Tools | |
| |