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Swedish group Ericsson loses 105 million euros in the second quarter

Swedish telecoms group Ericsson had losses in the second quarter of the year amounting to 1 billion Swedish kronor (about 105 million euros), which Forecasts of the most pessimistic analyzes.

Berlin, July 18 (EFE) .- The Swedish telecommunications group Ericsson had losses in the second quarter of the year worth about 1 billion Swedish kronor (about 105 million euros) Which doubled the forecasts of the most pessimistic analyzes.

The company reported that in the previous quarter it had had profits of 1.6 billion crowns 168 million euros).

Sales fell 8 percent to 49.9 billion kronor (€ 5,241 million).

The company explained that the drop in billing Was mainly due to the low investments of customers in the mobile phone network in some markets which affected the sale of certain Ericsson products.

Situation, the consortium wants to accelerate its cost-cutting plan.

The Swedish group is currently faced with a weakening of the market and the challenge of competitors Asian.

In recent years, Ericsson has lost market share with Chinese Huawei and the Finnish company Nokia.

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