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Ericsson says uncertainty in networks business to persist into 2024

2023-10-17 05:14
STOCKHOLM Ericsson on Tuesday said it expected the uncertainty impacting its mobile networks business to persist into 2024,
Ericsson says uncertainty in networks business to persist into 2024

STOCKHOLM Ericsson on Tuesday said it expected the uncertainty impacting its mobile networks business to persist into 2024, after reporting a fall in third-quarter revenue as demand for 5G equipment fell in North America.

The company, which pre-announced its results last week and took a $2.9 billion impairment charge over its Vonage acquisition, said it expects current quarter results to be similar to the third quarter.

(Reporting by Supantha Mukherjee in Stockholm, editing by Terje Solsvik)