Home / / Ericsson's sales up 7.5% in Middle East

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.

Follow us to get the most comprehensive IT business news delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.