Ericsson again came under pressure in the third quarter as rivals hit its core telco equipment business.
Sales fell by 6 per cent with the Swedish firm reporting a SEK 4.8 billion loss.
“We remain fully committed to our focused business strategy. We continue to invest to secure technology leadership and year to date we have recruited more than 1,000 R&D employees in Networks. Customers give positive feedback on both our long-term strategy and on our current 5G-ready portfolio,” said Börje Ekholm, President and CEO of Ericsson.
However, he warned that general trading conditions continued to be tough.
Media also continues to suffer, though the new media portfolio achieved “several important wins” in the quarter. A buyer is still being sought.
