Ericsson's sales up 7.5% in Middle East

Global sales remain flat due to currency fluctuations, says CEO

Tags: EricssonSweden
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Ericsson's sales up 7.5% in Middle East Hans Vestberg, CEO of Ericsson.
By  Roger Field Published  July 21, 2013

Ericsson, the world's biggest telecoms vendor, managed to increase its second quarter Middle East sales by 7.5%, year on year, to reach SEK3.98bn ($609m).

The Sub-Saharan Africa region fared less well, with sales declining by almost 5% to SEK2.65bn.

Globally, sales were broadly flat in Q2, with net sales of SEK55.3bn, due to "continued currency headwind", according to Hans Vestberg, president and CEO, Ericsson.

The company posted second-quarter earnings before interest and tax, of SEK2.5bn ($380m), compared to SEK2.1bn in the same quarter last year.

Results were hit by a SEK0.9bn one-off charge for divestments and higher-than-expected restructuring costs, the company said.

"While the macroeconomic situation in Europe remains challenging and the political uncertainty in parts of Region Middle East, such as Egypt, increases, the long-term fundamentals in the industry remain attractive and we are well positioned to continue to support our customers in a transforming ICT market," Vestberg said.

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