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Ericsson steps up cost-cutting as Q1 sales slow

Thursday 21 April 2016 | 08:25 CET | News
Ericsson announced plans to step up its cost-cutting efforts after report first-quarter revenues fell 2 percent year-on-year to SEK 52.2 billion. The company said it saw a slowdown in Europe after completion of mobile broadband projects there last year as well as economic weakness in some emerging markets. Growth remained strong in mainland China, and sales also grew in North America and southeast Asia. The company achieved already in Q1 SEK 500 million of its targeted SEK 9 billion in cost savings, helping the operating margin improve to 6.7 percent from 4.0 percent a year ago. The higher

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Categories: Mobile & Wireless
Countries: World
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