Ericsson's sales surge

| Saturday, July 18, 2015 - 11:18
First Published |

Ericsson's sales surge

Stockholm: Telecom giant Ericsson reported a surge in global sales for the second quarter of the fiscal 2015-16, as the company executed its cost-savings programme.

Sales in the second quarter totalled $7.05 billion, an 11 percent increase on the same quarter last year, Xinhua reported on Friday.

"The mobile broadband business in North America stabilised in the quarter, but remained at a lower level than a year ago," CEO Hans Vestberg said.

Sales in China, the Middle East and India also contributed positively to Ericsson's sales growth.

Ericsson's gross margin dropped to 33.2 percent in the quarter, compared to 36.4 percent for the same period in 2014.

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