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Electronics Production | January 25, 2012

Ericsson falls sharply

1.8 billion earnings for the fourth quarter. It may not sound so bad, but the corresponding period last year profit was 7.8 billion and for the third quarter of 5.9 billion.
"For the full year 2011, we had a strong sales growth and an increase in net income. In the fourth quarter, however, we saw weaker development in Networks, as well as an expected gross margin impact from a changed business mix with more coverage projects, modernization projects in Europe, and a higher services share," said Hans Vestberg, President and CEO of Ericsson.

One thing that has burdened Ericsson during the winter is losses from their joint-ventures.

Sony Ericsson fell badly in its last quarterly report and ST-Ericsson will continue to cost money. Some concerns also remain for the next few quarters: ”We believe that the industry fundamentals for longer-term positive development remain solid. Short-term, we expect operators to continue to be cautious with spending, reflecting factors such as macro economic and political uncertainty”.

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