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Swedish Ericsson reports USD1b loss in Q4  Join our daily free Newsletter

MENAFN - 31/01/2013

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(MENAFN) Swedish wireless equipment maker Ericsson reported a quarterly loss on a large one-time charge, AP reported.

The company said it incurred a USD1.02 billion net loss during the fourth quarter of 2012, versus a USD180.73 million profit a year earlier.

In December, Ericsson said it would take a USD1.26 billion charge related to semiconductor manufacturer ST-Ericsson, after Swiss STMicroelectronics said it wanted out of the joint venture.

The company also reported a 5 percent increase in quarterly sales to USD10.5 billion from USD10 billion a year ago.

Demand for its equipment rose in the quarter as mobile operators invested in broadband networks.

Ericsson competes in the network infrastructure business with French Alcatel-Lucent, China's Huawei and Nokia Siemens Networks, a Finnish-German joint venture.

 






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