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Ericsson Is Suffering in North America

October 21, 2016

Via: Fortune
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Sweden’s Ericsson said sales in North America, its biggest market, had fallen in the past three months, identifying another of its weaknesses after the mobile telecom equipment maker’s dramatic profit warning last week.

The company, the world’s biggest maker of mobile network equipment, also said it would introduce further cost-cutting to deal with a weaker mobile broadband market.

Ericsson ERIC -0.56% shocked investors last week when it issued the profit warning—indicating a plunge of more than 90% in quarterly operating profit and tumbling sales.

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