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Ericsson Q3 earnings: Strong 5G sales offset setbacks in China and from chip shortage

October 20, 2021
Source: rcrwireless.com rcrwireless.com
News Snapshot:
Ericsson has secured 5G contracts from all three top U.S. carriers, helping the company absorb losses in China Ericsson has reported third-quarter profit of $665.2 million. The company’s loss of market share in mainland China — due to tensions resulting from Sweden’s ban on Huawei equipment — and a global supply chain challenges was offset by strong sales of 5G equipment in much of the world. “We continue to win footprint across our business by leveraging our competitive 5G portfolio. The 5G contracts now awarded by all three tier-1 US carriers are the largest in Ericsson’s history,” commented Börje Ekholm,...
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