Ericsson lags estimates on sluggish network sales

04/24/2013 | Reuters · Bloomberg

Ericsson blamed lingering sluggish demand among carriers for missing analyst estimates in the first quarter, especially when it came to sales of its wireless network equipment. Sales rose by 2% from a year ago as revenues from network service lagged projections. Some industry observers pointed to stronger competition from China's Huawei Technologies, but Ericsson cited global economic weakness and weak carrier spending. Chief Executive Hans Vestberg predicted a recovery later this year.

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