• Ericsson plans more cost cuts as shares plunge after poor Q2

    5 days ago - By Boston Herald

    HELSINKI - Ericsson shares plunged Tuesday after the Swedish mobile networks company posted a second-quarter loss on falling sales and warned that there was unlikely to be any improvement soon. Hit by a decline in networks and software sales, Ericsson's net loss in the period was 1 billion kronor , a marked deterioration from last year's equivalent of a 1.6 billion-kronor profit. Overall sales slumped 8 percent to 50 billion kronor.
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