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Ericsson tops forecast as 5G demand offsets China troubles

January 25, 2022
Source: srnnews.com srnnews.com
News Snapshot:
Enlarge By Supantha Mukherjee STOCKHOLM (Reuters) -Ericsson beat quarterly core earnings forecasts on Tuesday, sending its shares up 8% as global demand for telecoms equipment for 5G networks offset more market share losses in mainland China. The Swedish company has been losing business in China since Sweden banned China’s Huawei from its 5G rollout. China now accounts for a low single digit proportion of group revenue, down from more than 11% before the Swedish ban, Ericsson said. However, that has been offset by robust demand elsewhere. “We have seen North America continue to grow very strongly and we grew there...
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