Shulou(Shulou.com)11/24 Report--

CTOnews.com news on October 17, Ericsson released results for the third quarter of 20223, with net sales of SEK 64.5 billion (CTOnews.com Note: currently about RMB 43.147 billion), down 5% from a year earlier; a net loss of SEK 30.5 billion, compared with SEK 5.4 billion in the same period last year, with a gross profit margin of 38.4%; and diluted earnings per share of SEK 9.21.

Meanwhile, Ericsson expects the uncertainty affecting its mobile network business to continue into 2024, when Carl Mellander, chief financial officer, said: "We will not provide specific guidance for 2024 because the timing of the market recovery is uncertain."

Mr Merand said the company had raised its previously announced cost-cutting target for 2023 from SEK 11 billion to SEK 12 billion, including 8500 job cuts.

Network net sales in North America fell 60 per cent from last year due to slow inventory adjustments and new equipment launches by telecom customers. North America now accounts for 23% of Ericsson's sales, compared with 48% before.

India is a rare growth area, with sales quadrupling to about 10 billion kroner, but growth is expected to slow next year.

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