Ericsson's Profit Dip As Operators Cut Spending

Swedish telecoms equipment manufacturer and services provider Ericsson's profits fell by 92% year-on-year (y-o-y) in Q409. The company attributes its poor performance to reduced spending by operators in a number of markets, including Latin America, the Middle East and Africa. Spending on 2G mobile equipment slowed, while investments into higher capacity networks and mobile broadband have not started yielding the desired results.

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