ERICSSON EARNINGS BOOSTED BY 5G NETWORK ROLLOUTS
Techlife News|October 24, 2020
ERICSSON EARNINGS BOOSTED BY 5G NETWORK ROLLOUTS
Swedish telecom equipment maker Ericsson has reported upbeat third-quarter earnings, helped mainly by the rollout of 5G wireless networks in China and a strong U.S. market.

The Stockholm-based company said that net profit for the July-September period was 5.6 billion kronor ($640 million), compared with a loss of 6.9 billion kronor the previous year. Sales were up 1% at 57.5 billion kronor.

Ericsson CEO Borje Ekholm said the company’s contracts for the next-generation 5G networks in mainland China “have developed according to plan, contributing positively to profits in Q3 and are expected to improve further”.

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October 24, 2020