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Ericsson's sales up 7.5% in Middle East

Global sales remain flat due to currency fluctuations, says CEO

Ericsson's sales up 7.5% in Middle East
Hans Vestberg, CEO of Ericsson.

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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