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Article: Ericsson down on sluggish outlook.(News)
- Article from:
- RCR Wireless News
- Article date:
- February 5, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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L.M. Ericsson announced that it brought in a net income of $1.4 billion in the most recent quarter, representing a 14-percent rise from the same quarter a year ago. Despite the Swedish company's success as the largest maker of mobile-phone networks, largely buoyed by record earnings at its handset joint venture with Sony, it cautioned that the market for mobile equipment may slow this year.
The company lowered its outlook from "moderate'' growth to "mid-single digit'' growth, which prompted disappointment among several analysts. Ericsson shares have ...