Weaker than expected second-quarter sales and profits in a poor growth climate prompted Swedish telecoms giant Ericsson to announce fresh cost-cutting measures Tuesday.
Ericsson posted a fourth straight quarterly loss in unveiling April to June figures of 1.0 billion kronor (105 million euros/$121 million) on sales dropping 8 percent to 49.9 billion kronor, dipping beneath analysts forecasts of 50.5 billion.
The company said it saw increased risk of further market and customer project adjustments with an estimated negative impact on operating income of 3 to 5 billion kronor for the coming 12 months.
We are not satisfied with our underlying performance with continued declining sales and increasing losses in the quarter, said CEO Borje Ekholm…
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