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Ericsson second-quarter sales, operating profit beat forecast

18
Jul
2014

Mobile telecom gear maker Ericsson posted second-quarter sales and operating income above expectations on Friday as sales picked up at its key networks unit thanks to growth in the Middle East, China, the United States and India. In China, Ericsson is selling gear for a massive rollout of fourth generation mobile gear, and is also getting a boost from capacity upgrades in developed markets where telecom operators compete for clients by offering top-notch networks to cope with a surge in mobile data traffic. “After a slow start of the year, we are executing on previously awarded 4G/LTE contracts in Mainland China and Taiwan,” Ericsson Chief Executive Hans Vestberg said in a statement, repeating that key contracts won by the group would boost revenue during the second half of the year. Sales at Ericsson, the world number one mobile network equipment maker, were 54.8 billion crowns against a forecast of 52.5 billion, and inched down by 1 percent from the year-ago quarter on a comparable basis.

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