Ericsson reveals sharp profit fall, 1,000 job cuts
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Swedish telecom infrastructure group Ericsson, hit hard by a slowdown in the telecom sector, announced on Friday a 17-percent fall in 2007 net profit and the shedding of 1,000 jobs in Sweden.
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Motorola Inc. MOT.N, the world's No.  2 maker of cell phones, on Tuesday said it would cut 1,000 jobs  in three of its units as it puts its effort behind wireless  communications in an increasingly competitive market.
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Mobile phone maker Sony Ericsson Mobile Communications AB said on Wednesday fourth-quarter profit fell almost 17 percent as higher costs more than offset the effect of a rise in shipments.
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The diversified manufacturer said its fiscal first-quarter profit fell 54 percent from a year earlier, when it still owned its health care and electronics businesses.
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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  (ERICb.ST) 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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The chief financial officer of Swedish telecoms group Ericsson quits after he firm saw quarterly profit fall 36%.
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Ericsson, the world's largest supplier of mobile telecommunication networks, on Friday posted an 8.2 percent rise in profits in 2006 but disappointed the market by revising downwards its forecast for 2007.
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Texas Instruments Inc posted a 10  percent rise in quarterly profit on Monday, but gave a  disappointing revenue forecast due to the loss of some business  at customer Ericsson, sending its shares down as much as 4  percent.
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US power company Scana Corp. (SCG.N: Quote, Profile, Research) on Friday said quarterly profit fell, citing litigation costs and a writedown related to an investment in a telecommunications business.
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Shares of Swedish company Ericsson  ERICY.O fell 6.8 percent before the bell Friday after the  world's biggest producer of mobile phone networks reported a  big jump in third-quarter profits but said market growth would  slow next year.
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Ericsson , the world's largest supplier of equipment for mobile phone networks, reported fourth-quarter pre-tax earnings below expectations on Friday and reduced its 2007 market growth forecast.
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The company said fourth-quarter net profit fell 42 percent and announced it would cut 1,000 jobs as part of a cost-cutting strategy.
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Mobile phone maker Sony Ericsson said fourth-quarter profit fell almost 17 percent as higher costs more than offset the effect of a rise in shipments.
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Telecom equipment maker Ericsson   reported on Friday lower-than-expected operating  profit of 7.6 billion Swedish crowns ($1.20 billion) in the  fourth quarter and announced major cost cuts.
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Ericsson missed market forecasts for second-quarter earnings as its multimedia drive produced disappointing results and revenue in its key European market stagnated, sending its shares down 5 percent.
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Swedish telecoms equipment maker Ericsson reported a lower-than-expected fourth-quarter gross profit margin on Thursday as the rollout of more mobile networks added to costs, sending its shares down despite strong orders.