Ericsson Profit Off 36% as Mobile Phone Networks Buy Less Gear
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Shares of the worldâs biggest maker of mobile networks fell 24% after announcing a drop in third-quarter profit amid weaker demand for equipment in Europe and the U.S.
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Ericsson, the world's largest  supplier of equipment for mobile phone networks, reported  fourth-quarter earnings below expectations on Friday and  reduced its 2007 market growth forecast.
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Telecom equipment group Ericsson's  chief financial officer has stepped down in the wake of a shock profit warning last week which caused a massive selloff in the company's shares.
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Sony Ericsson, the world's fourth-biggest mobile phone maker, missed expectations with a 55 percent jump in quarterly profits after it shifted focus to sales of lower-priced phones to gain market share.
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Mobile phone maker Sony Ericsson today reported that it had more than trebled third quarter pre-tax profits, but the market leader, Nokia, reported a 20% fall.
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TOKYO -- Sony Ericsson, the world's fourth-largest mobile phone maker, said Thursday its net profit rose 54 percent in the quarter ended June 30, as it expanded its market share with low and mid-range phones.
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NTT DoCoMo Inc. (9437.T), Japan's top  mobile phone operator, said on Wednesday its operating profit  fell 2.4 percent in the nine months to December after it lost  subscribers to rivals but maintained its annual forecast.
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Sony Ericsson, the world's fourth-largest mobile phone maker, saw growing profits and market share in the second quarter but said the average selling price of its handsets continued to fall.
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The mobile phone maker said  fourth-quarter net profit rose to $2.6 billion and that it had reached its goal of 40 percent market share in handset sales. The companyâs stock soared.
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BT profits fall 30% hit by the costs of its restructuring programme, but it makes 35% of broadband connections.
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Telecom equipment maker Ericsson  reported lower-than-expected profit and announced sweeping job cuts on Friday as the group hunkered down for what it expects will be a flat market this year.
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Telecom equipment maker Ericsson  (ERICb.ST) reported lower-than-expected profit and announced  sweeping job cuts on Friday as the group hunkered down for what  it expects will be a flat market this year.
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Swedish telecommunications equipment maker Ericsson today reported a return to net profit in the third quarter, lifted by healthy growth in its international markets.
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Nokia, the world's largest mobile-phone maker, has lowered its profitability targets in spite of rising sales, highlighting the growing difference in its performance with that of rival Ericsson.
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Sony Ericsson, the world's fourth-largest mobile phone maker, said Thursday its net profit rose 54 percent in the quarter ended June 30, as it expanded its market share with low and mid-range phones.
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Ericsson, the world's biggest producer of mobile phone networks, said market growth would slow next year, sending its share price down sharply despite reporting a big jump in third-quarter profits on Friday.
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STOCKHOLM, Sweden -- LM Ericsson shares plunged nearly 24 percent Tuesday as the wireless network company unexpectedly cut its third-quarter forecast, the latest cell phone technology company to feel the pinch of slowing sales worldwide.