Ericsson Sees Sales Stagger

Ericsson reported a 14% year-on-year decline in revenues to 51.1 billion Swedish krona (5.7 billion US dollars) for the third quarter of 2016.  Sales fell by approximately one quarter in the Middle East, Africa and India. The company said: "The decline, in both mobile broadband coverage and capacity sales, was particularly strong in markets with a weak macro-economic environment. In addition, capacity sales in Europe were lower than a year ago."

It also signalled further trouble ahead: "The current industry trends indicate a somewhat weaker than normal seasonal sales growth between the third and fourth quarters. In addition a renewed managed services contract in North America, with reduced scope, will impact sales negatively." source: Ericsson statement