Ericsson Suffers Further Slowdown

Ericsson reported a 7% year-on-year decline in sales in the second quarter on a like-for-like basis to 54.1 billion Swedish kroner (6.3 billion US dollars). Sales fell 1% in the first quarter on the same basis.

The Stockholm-based company said that "mobile broadband sales continued to decline, particularly in markets impacted by a weak macro-economic environment such as Brazil, Russia and the Middle East." source: Ericsson statement