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Ericsson Profits Drop

Ericsson Profits Drop Ericsson Profits Drop

Swedish telecoms giant Ericsson said Tuesday its net profit plunged by over a third in the fourth quarter, dragged down by falling demand in its key market North America, AFP reported. Profits slumped 35% to 4.17b kroner ($503m) in the last three months of 2014 as currency hedge losses further eroded earnings. Net profit for the full year was down 4% to 11.57b kronor.

 

Financialtribune.com