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Electronics Production | July 23, 2010

Component shortage hurts Ericsson

Ericsson today released its report for the second quarter. Earnings rose slightly but component shortages continue to hurt the company.

Ericsson's profit for the second quarter was about 500 million Euros. The corresponding period last year profit was 480 million. Turnover was about 4,8 billion Euros, compared to 5,2 billion in the same quarter last year. The component shortage effect on sales is estimated to 300 -- 400 million Euros during the quarter. Ericsson reiterated its overall savings target of 15-16 billion. The full effect expected to be continued during the second half of 2010.
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