Ericsson reports third quarter results
(firmenpresse) - STOCKHOLM, SWEDEN -- (Marketwire) -- 10/20/11 --
"Group sales in the quarter increased by 17% year-over-year driven by a
continued strong demand for mobile broadband as well as increased services
revenues," says Hans Vestberg, President and CEO of Ericsson (NASDAQ: ERIC).
"Sales for comparable units, adjusted for currency and hedging, increased
24%
year-over-year. Our performance year-to-date reaffirms our indications of a
strengthened global market share. A higher proportion of coverage projects
along
with accelerating network modernization projects in Europe impacted gross
margin
negatively. Operating income, excluding joint ventures, was SEK 6.3 (6.2)
b. in
the quarter and net income amounted to SEK 3.8 (3.6) b., an increase of 6%.
Segment Networks sales grew 25% year-over-year. The sequential decrease of
-3%
is due to seasonality and reduced CDMA sales in North America. All regions
except North America, Northern Europe & Central Asia, Mediterranean and
India
showed sequential growth in Networks. In the quarter, all remaining effects
from
the earthquake and tsunami in Japan in March this year on our supply chain
have
been eliminated and lead times are back to normal. With economic
uncertainties
in parts of the world, we cannot exclude somewhat more cautious short-term
operator spending.
Segment Global Services sales grew 7% year-over-year and sequentially and
Professional Services, currency adjusted, grew by 13% year-over-year.
Managed
services showed good development with increased sales of 12% sequentially,
following 24 new managed services contracts reported in the second quarter.
Segment Multimedia sales grew 11% year-over-year and 8% sequentially, with
good
traction also this quarter for revenue management in Middle East and Sub-
Saharan
Africa.
The quarter was mixed for our joint ventures. Sony Ericsson reported
increased
sales and improved average selling price. Our share of Sony Ericsson's
profit
was SEK 0.1 (0.3) b. ST-Ericsson's sales increased sequentially by 7% and
revenues from new products continued to grow offsetting continuous decline
in
legacy products. Our share of ST-Ericsson's loss was SEK -0.7 (-0.4) b.
Increased global smart phone penetration, new devices and the introduction
of
tiered pricing is driving continued mobile data traffic growth. Mobile
broadband
subscriptions are expected to reach close to one billion by year-end and to
reach close to five billion by 2016. We believe that the fundamentals for
longer-term positive development for the industry remain solid. Ericsson is
well
positioned to drive and benefit from this development," concludes Vestberg.
FINANCIAL HIGHLIGHTS
Income statement and cash flow
Sales in the quarter amounted to SEK 55.5 (47.5) b., up 17% year-over-year
and
1% sequentially. Sales for comparable units, adjusted for currency exchange
rate
effects and hedging, increased 24% year-over-year. The strong growth in
mobile
broadband equipment that we have seen the past quarters, continued also
this
quarter. In this quarter, we also saw an uptake in the services segment.
Reported numbers for the third quarter 2011 include restructuring charges
of SEK
0.4 b., while reported numbers for the third quarter 2010 exclude
restructuring
charges of SEK 0.9 b. Total estimated restructuring charges for 2011
remains at
approximately SEK 3 b.
Gross margin in the quarter was down year-over-year to 35.0% (39.0%), and
down
from 37.8% sequentially. A higher proportion of coverage projects along
with
accelerating network modernization projects in Europe impacted gross margin
negatively. Sequentially the increased share of services business also had
a
negative impact.
The network modernization projects in Europe, with their lower margins,
will
continue to accelerate in the fourth quarter. Average project duration is
expected to be 18-24 months.
Total operating expenses amounted to SEK 13.5 (13.0) b. Typically,
operating
expenses are lower in the third quarter. R&D expenses amounted to SEK 7.8
(7.2)
b., an increase of 8% year-over-year. The increase is a result of earlier
communicated planned higher investments in radio, such as TD-LTE and IP as
well
as the acquired LG-Ericsson operations. Selling and general administrative
expenses (SG&A) amounted to SEK 5.7 (5.7) b., representing 10% of sales
compared
to 12% in the third quarter 2010. Other operating income and expenses
amounted
to SEK 0.4 (0.6) b. in the quarter.
Operating income, excluding joint ventures, increased to SEK 6.3 (6.2) b.
in the
quarter despite a negative impact from restructuring charges of SEK 0.4 b.
Operating margin decreased to 11.3% (13.0%) year-over-year and increased
sequentially from 9.2%. In the second quarter operating income was impacted
by a
one-off restructuring charge of SEK 1.3 b. related to activities in Sweden.
Ericsson's share in earnings of joint ventures, before tax, was SEK -0.6
(0.0)
b., compared to SEK -0.8 b. in the second quarter 2011 due to improved
results
in Sony Ericsson. Ericsson's share in Sony Ericsson's result was SEK 0.1
(0.3)
b. and in ST-Ericsson SEK -0.7 (-0.4) b.
Financial net amounted to SEK 0.2 (-0.1) b. in the quarter as a result of
positive revaluation effects from lower interest rates. Financial net
decreased
sequentially from SEK 0.3 b.
Net income improved year-over-year to SEK 3.8 (3.6) b. due to higher sales
volumes. Sequentially net income increased from SEK 3.2 b. mainly due to
improved operating margin.
Earnings per share were SEK 1.18 (1.14) in the quarter. Earnings per share,
Non-
IFRS, diluted, i.e. excluding amortizations and write-downs of acquired
intangibles, were SEK 1.44 (1.42) in the third quarter, up 1%.
Adjusted operating cash flow was SEK 2.4 (12.7) b. in the quarter. Cash
flow
from operations amounted to SEK 1.6 (11.8) b. Last year the quarter was
positively impacted by exceptionally good collections. Cash outlays for
restructuring amounted to SEK 0.7 (0.9) b. in the quarter. Cash outlays of
SEK
1.8 b. remain to be made.
Trade receivables increased sequentially at SEK 65.6 (60.2) b. Days sales
outstanding (DSO) increased from 99 to 106 days sequentially due to a
higher
share of projects with longer payment terms.
Inventory increased sequentially by SEK 3.5 b. to SEK 38.6 (35.1) b. In
the
quarter, we had good progress in normalizing the supply chain, however,
there
were remaining effects from the earlier mitigating activities taken in
connection to the events in Japan. Inventory was also negatively impacted
by a
weaker SEK and a higher share of projects. Inventory turnover days
increased
from 89 to 91 days.
Goodwill increased SEK 1.4 b. to SEK 27.7 (26.3) b. due to a weaker SEK.
Cash, cash equivalents and short-term investments amounted to SEK 76.9
(78.7) b.
The net cash position decreased sequentially by SEK 7.2 b. to SEK 35.4
(42.6) b.
The post-employment benefits in Sweden has been recalculated due to lower
discount rates resulting in a negative effect on net cash position of SEK -
5.0
b. Furthermore, Ericsson's acquisition cost for Nortel's remaining patents
and
patent applications was close to SEK 2 b.
During the quarter approximately SEK 1.5 b. of provisions were utilized, of
which SEK 0.7 b. related to restructuring. Additions of SEK 0.6 b. was
made, of
which nothing related to restructuring. Reversals of SEK 0.6 b. were made.
Total number of employees at the end of the quarter amounted to 100,890
(88,060), an increase by 2,961 from June 30, 2011, mainly related to our
services business, primarily in India, China, Brazil and Italy.
SEGMENT RESULTS
Networks sales in the quarter were SEK 32.5 (26.1) b., negatively impacted
by
the strong SEK year-over-year. The increase of 25% year-over-year was an
effect
of continued high sales in mobile broadband related equipment including
packet
core, IP routers and microwave based backhaul. The sequential decrease of -
3% is
due to seasonality and reduced CDMA sales in North America. All regions
except
North America, Northern Europe & Central Asia, Mediterranean and India
showed
sequential growth in Networks. In India 3G rollouts peaked in the second
quarter.
Regions Latin America and Sub Saharan Africa developed favorably with
especially
strong growth in Brazil and Nigeria where operators invested in mobile
broadband
coverage. Japan also showed strong development in the quarter with a high
degree
of capacity investments. China had a somewhat slower quarter due to
seasonality.
In the quarter, all remaining effects from the earthquake and tsunami in
Japan
in March this year on our supply chain have been eliminated and lead times
are
back to normal. With economic uncertainties in parts of the world, we
cannot
exclude somewhat more cautious short-term operator spending.
EBITA margin in the quarter decreased year-over-year to 16% (21%) and was
flat
sequentially. In the second quarter 2011, margins were negatively impacted
by
one-off restructuring charges in Sweden. In the network modernization
projects
in Europe the old GSM- and WCDMA-radio base stations are now starting to be
replaced with the new multi-standard radio.
Global Services sales in the quarter were SEK 20.4 (19.1) b. an increase of
7%
both year-over-year and sequentially.
Professional Services sales were SEK 14.7 (13.7) b. in the quarter, up 7%
year-
over-year and 9% sequentially. Currency adjusted sales of Professional
Services
increased year-over-year 13%. The increase is mainly a result of increased
sales
of systems integration projects. In the quarter, four significant systems
integration contracts were signed in the areas of OSS/BSS, Service Delivery
Platforms and data center build projects.
Managed Services sales increased by 1% year-over-year to SEK 5.3 (5.2) b.
and
12% sequentially, mainly driven by Brazil, Germany, Italy, UK and the US.
Currency adjusted Managed Services sales increased 8% year-over-year. The
sequential growth is reflecting the 24 new managed services contracts
signed in
the second quarter. In the third quarter, 14 new managed services contracts
were
signed, of which six were extensions or expansions.
Network Rollout sales amounted to SEK 5.7 (5.3) b. in the quarter, an
increase
of 7% year-over-year and 3% sequentially, driven by continued high volumes
of
network modernization.
Global Services' EBITA margin decreased in the quarter to 9% (12%) year-
over-
year and increased sequentially from 6%. Sequentially, margin was
positively
impacted by increased volumes and improved Network Rollout margins driven
by
supply chain improvements. However, Network Rollout margins are still
negative
due to network modernization in Europe and finalization of 3G projects in
India.
The margin impact from restructuring charges was 1%-point in the quarter.
EBITA margin for Professional Services amounted to 14% (16%). Margins
improved
sequentially from 13% positively impacted by increased volumes. In the
quarter
there was an impact from restructuring charges of 2%-points.
Ericsson provides support for networks that serve more than two billion
subscribers worldwide. The total number of subscribers in networks managed
by
Ericsson is more than 850 million, of which 475 million in network
operation
contracts and 375 million in field operations. The number of services
professionals employed amounts to 53,000.
Multimedia sales in the quarter increased 11% year-over-year and 8%
sequentially, with continued good development in revenue management. TV
solutions improved sequentially, driven by IPTV where several contracts
were
signed in the quarter. EBITA margin improved to 11% (0%) due to increased
volumes and the efficiency program which has resulted in lower operating
expenses.
Sony Ericsson's third quarter profitability improved sequentially as a
result of
higher sales volumes. The company's shift to Android-based smartphones
continues, now representing more than 80% of total sales.
Cash flow from operating activities during the quarter was positive EUR 53
million. Repayment of external borrowings of EUR 51 million were made in
the
quarter resulting in total borrowings of EUR 718 million on September 30,
2011.
Total cash balances amounted to EUR 466 million.
Sony Ericsson estimates that its share in the global Android-based
smartphone
market during the quarter was approximately 12% in volume and 11% in value.
Ericsson's share in Sony Ericsson's income before tax was SEK 0.1 (0.3) b.
in
the quarter.
ST-Ericsson's sales increased sequentially by 7% and revenues from new
products
continued to grow offsetting the continuous decline in sale of legacy
products.
The net financial position at the end of the quarter was negative USD -594
m.
(last quarter net financial position was USD -427 m.) ST-Ericsson is
reported in
US GAAP and Ericsson's share in ST-Ericsson's income before tax, adjusted
to
IFRS, was SEK -0.7 (-0.4) b. in the quarter.
By the end of the quarter ST-Ericsson had utilized USD 614 m. of a short-
term
credit facility granted on a 50/50 basis by the parent companies.
ST-Ericsson is currently in a shift from legacy to new products, which in
the
quarter represented more than 50% of total sales.
Ericsson is committed to support the execution of ST-Ericsson's business
plan
and we still believe in the company's recovery to profitability and
positive
operating cash flows. However, in the event of a significant worsening of
the
current market conditions, we may consider additional actions to improve
performance. Under this scenario the value of ST-Ericsson for Ericsson may
be
lower than the current carrying amount of the investment on our books. We
will
continuously monitor ST-Ericsson's business evolution and will value the
situation on a quarterly basis.
North America sales decreased -6% year-over-year and -2% sequentially. A
positive uptake in the services and OSS/BSS businesses in the quarter could
not
fully offset the impact from a slower networks business after a period of
high
operator investments in network capacity. CDMA sales declined sequentially
although it increased year-over-year. There is a continued operator focus
on
commercial LTE launches and in addition, operators also focus on cash flow
management.
Latin America sales increased 64% year-over-year and 22% sequentially with
growth across all segments. Operators invest in mobile broadband coverage
as
well as GSM to meet increased data traffic. There were also good traction
for
transmission, opto and IP. In the quarter, new IPTV deals were signed.
Northern Europe and Central Asia sales increased 49% year-over-year and
decreased -23% sequentially. The sequential decline is due to slower
infrastructure and network rollout sales, mainly in Russia, following
strong
operator investments in network capacity and coverage during the first six
months of 2011.
Western and Central Europe sales increased 7% year-over-year and 6%
sequentially, mainly driven by increased volumes related to network
modernization projects as well as the managed services business. There is
momentum for managed services and network sharing as operators seek to
reduce
operating expenses.
Mediterranean sales increased 4% year-over-year and decreased -6%
sequentially.
Network modernization projects are underway across the region. Year-over-
year,
network rollout and system integration showed a good development,
reflecting the
ongoing modernization projects. Sequentially, Spain and Greece were
impacted by
macroeconomic instability and in Northern Africa sales developed slow due
to
political unrest.
Middle East sales increased 34% year-over-year and 3% sequentially. The
year-
over-year comparison is easy due to a slow market in Q3 2010 following
supply
constraints. Mobile broadband sales continued to develop positively across
the
region. Operators are looking into opportunities to reducing their
operating
expenses, resulting in a positive development for managed services both
year-
over-year and sequentially. Political unrest continues to impact sales
development in the region with operators being cautious on infrastructure
investments.
Sub-Saharan Africa sales increased 40% year-over-year and 14% sequentially,
driven by both networks and multimedia. Operators invested in 3G network
coverage in preparation for expected increased data traffic. To reduce
operating
expenditures, operators show interest in managed services.
India sales increased 7% year-over-year and decreased -19% sequentially.
Networks sales decreased sequentially due to slower 3G investments. The
initial
3G rollouts reached a temporary peak already in the second quarter 2011
following three quarters of intense deployments. The Indian market is
fragmented
and in the near future a telecom policy reform is expected which might make
operator consolidation easier. After the end of the quarter the first TD-
LTE
deal in India was signed with Augere Wireless Broadband Pvt Ltd and
services
will start next year.
China and North East Asia sales increased 39% year-over-year and 7%
sequentially
across all segments and with especially strong demand in services and
multimedia. Operator investments in the region are mainly driven by the
broad
introduction of smartphones which has lead to continuous growth in mobile
broadband subscriptions and usage. The high level of GSM expansions
continued
in China although total revenue was somewhat lower due to seasonality.
Ericsson
has successfully completed the first phase of the large-scale TD-LTE trial
with
China Mobile. Japan showed strong development in the quarter with a high
degree
of capacity investments. In Korea, the LTE contracts with LGU+ and SKT have
both
moved into deployment phase and LG-Ericsson is also implementing a
WCDMA/HSPA
capacity expansion project in the Seoul metropolitan area.
South East Asia and Oceania sales decreased -3% year-over-year and
increased
23% sequentially, with contribution from the Telstra LTE project which is
now in
deployment. Data traffic growth is only 10% in the region and smartphone
penetration is still low. Overall profitability for operators is declining
due
to diminishing voice and sms revenues.
Other includes sales of for example embedded modules, cables, power modules
as
well as licensing and IPR.
Industry development
GSM network coverage has reached more than 85% of the world's population
and
more than 40% of the population has the possibility to access WCDMA/HSPA
networks. Both technologies will continue to expand its footprint going
forward
and in five years time, WCDMA/HSPA is expected to have the same coverage as
GSM
has today. Further buildout of HSPA coverage will be driven by the
availability
of affordable smartphones, as well as the surge in mobile broadband
services,
applications and faster speeds. Several major operators have started LTE
deployments but in terms of population coverage, LTE only covers a few
percentages today. In five years time, it is expected that LTE will have
roughly
the same population coverage as WCDMA/HSPA has today. In terms of global
operator investments, WCDMA/HSPA will remain the leading mobile access
technology for many years to come.
Yearly WCDMA/HSPA radio access network investments passed GSM investments
in
2009, eight years after the 3G introduction in Western Europe. Co-existence
of
GSM, WCDMA/HSPA, CDMA2000 and 4G/LTE and increasing number of frequency
bands
pave the way for investments in multi-standard solutions and networks
modernization.
In addition to radio investments, the strong growth in mobile and fixed
broadband drives need for higher capacity in areas such as backhaul,
aggregation, transport, and routing based on IP and Ethernet technologies.
With operators' focus on increased network quality and efficiency, the
ability
to deal with high data volumes while maintaining telecom grade service
levels is
key. This enables operators to provide premium quality and differentiating
offerings to the end users. Recognizing that quality of service is becoming
more
important, some operators now differentiate by deploying superior networks
emphasizing end user experience and quality. This also drives demand for
services targeting the operational efficiency of operators, such as
consulting,
including network optimization, systems integration and managed services.
End user trends
Global mobile penetration is 82% and total mobile subscriptions are around
5.8
billion. Around 75% of the subscriptions, or 4.4 billion, are GSM while
only
14% are WCDMA/HSPA subscriptions. Year-over-year growth was roughly 13%.
India
and China accounted for approximately 40% of the estimated ~135 million net
additions during the third quarter, adding around 20 and 30 million
respectively. For India, this is lower than previous quarters. Indonesia,
Brazil
and Bangladesh follow in terms of net addition. There is continued strong
momentum for uptake of smartphones in all regions; we expect to see
approximately 30% of all handsets sold in the third quarter to be
smartphones,
compared to around 20% for the full year 2010. However, out of the
installed
base of subscriptions worldwide only around 10% use smartphones, which
means
that there is a big room for further uptake.
Global fixed broadband subscriptions reached around 550 million by the end
of
the second quarter 2011, mainly boosted by strong growth in DSL in China.
DSL
represents more than 60% of all fixed broadband subscriptions.
Tiered pricing for mobile broadband is now a reality, as many operators
today
have evolved beyond flat-rate unlimited data models and introduced
segmented
price plans, such as volume-, time- or speed-based plans. Segmented data
price
plans intend to attract a wide variety of data users and differentiate the
offering, in order to maximize data revenues and to grow total service
revenues.
Traffic load and traffic pattern differ significant between networks and
countries, with higher than average usage in e.g. North America. It is
worth
mentioning that North America also has much higher voice minutes per user
compared with other regions, mainly due to their different tariff
structures. An
average mobile PC user currently generates 1-2 Gbyte per month and the
usage has
been increasing over time. On average in a mobile network, a smartphone
generates approximately 10 times more data traffic compared to a normal
feature
phone, while a mobile PC generates 100 times more traffic than a feature
phone.
Going forward, the strong uptake of tablets will further stimulate traffic
growth. For all device types, measurements show that video streaming and
web
browsing are the applications that generate the largest share of the
traffic.
The amount of traffic generated over WiFi varies between different types of
devices.
PARENT COMPANY INFORMATION
Income after financial items was SEK 6.1 (5.9) b. Major changes in the
Parent
Company's financial position for the nine-month period include; decreased
cash,
cash equivalents and short-term investments of SEK 13.3 b., increased
current
and non-current receivables from subsidiaries of SEK 6.6 b. and decreased
current liabilities to subsidiaries of SEK 8.6 b. At the end of the
quarter,
cash, cash equivalents and short-term investments amounted to SEK 58.3
(71.6) b.
Guarantees to Sony Ericsson Mobile Communications AB are reported as
contingent
liabilities and amounted to SEK 2.1 (1.1) b. By the end of the quarter ST-
Ericsson had utilized USD 307 million of a short-term credit facility.
In accordance with the conditions of the long-term variable compensation
program
(LTV) for Ericsson employees, 2,600,304 shares from treasury stock were
sold or
distributed to employees during the third quarter. The holding of treasury
stock
at September 30, 2011, was 65,880,866 Class B shares.
OTHER INFORMATION
Closing of acquisition of M2M technology platform from Telenor Connexion
On August 24, 2011, Ericsson announced the completion of the asset purchase
agreement to acquire Telenor Connexion's M2M (machine-to-machine)
technology
platform. The acquisition follows Ericsson's ambition to drive the market
for
M2M communication.
Nortel patent portfolio
On July 29, 2011, Ericsson, as part of a consortium of leading technology
companies, completed the acquisition of all of Nortel's remaining patents
and
patent applications. The acquisition, which is still subject to final
approval,
includes more than 6,000 patents and patent applications touching nearly
every
aspect of telecommunications and additional markets as well, including
Internet
search and social networking.
Assessment of risk environment
Ericsson's operational and financial risk factors and uncertainties along
with
our strategies and tactics to mitigate risk exposures or limit unfavorable
outcomes are described in our Annual Report 2010. Compared to the risks
described in the Annual Report 2010, no material new or changed risk
factors or
uncertainties have been identified in the quarter.
Risk factors and uncertainties in focus during the forthcoming nine-month
period
for the Parent Company and the Ericsson Group include:
Ericsson conducts business in certain countries which are subject to trade
restrictions or which are focused on by certain investors. We stringently
follow
all relevant regulations and trade embargos applicable to us in our
dealings
with customers operating in such countries. Moreover, Ericsson operates
globally
in accordance with Group level policies and directives for business ethics
and
conduct. In no way should our business activities in these countries be
construed as supporting a particular political agenda or regime. We have
activities in such countries mainly due to that certain customers with
multi-
country operations put demands on us to support them in all their markets.
Stockholm, October 20, 2011
Telefonaktiebolaget LM Ericsson (publ)
Date for next report: January 25, 2012
AUDITORS' REVIEW REPORT
We have reviewed this report for the period January 1, 2011, to September
30, 2011, for Telefonaktiebolaget LM Ericsson (publ). The board of
directors and
the CEO are responsible for the preparation and presentation of this
financial
information in accordance with IAS 34 and the Swedish Annual Accounts Act.
Our
responsibility is to express a conclusion on this financial information
based on
our review.
We conducted our review in accordance with the Swedish Standard on Review
Engagements SÖG 2410, Review of Interim Report Performed by the
Independent
Auditor of the Entity. A review consists of making inquiries, primarily of
persons responsible for financial and accounting matters, and applying
analytical and other review procedures. A review is substantially less in
scope
than an audit conducted in accordance with International Standards on
Auditing
(ISA) and other generally accepted auditing standards in Sweden. The
procedures
performed in a review do not enable us to obtain assurance that we would
become
aware of all significant matters that might be identified in an audit.
Accordingly, we do not express an audit opinion.
Based on our review, nothing has come to our attention that causes us to
believe
that the interim report is not prepared, in all material respects, in
accordance
with IAS 34 and the Swedish Annual Accounts Act, regarding the Group, and
with
the Swedish Annual Accounts Act, regarding the Parent Company.
Stockholm, October 20, 2011
PricewaterhouseCoopers AB
Peter Nyllinge
Authorised Public Accountant
EDITOR'S NOTE
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Ericsson Studio, Grönlandsgången 4, Stockholm, at 09.00 (CET),
October
20, 2011. An analysts, investors and media conference call will begin at
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(CET).
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Securities
Markets Act. The information was submitted for publication at 07.30 CET, on
October 20, 2011.
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Third quarter 2011:
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Ase Lindskog
Vice President, Head of Investor and Analyst Relations
Phone: +46 10 719 9725, +46 730 244 872
E-mail:
Stefan Jelvin
Director, Investor Relations
Phone: +46 10 714 2039
E-mail:
Asa Konnbjer
Director, Investor Relations
Phone: +46 10 713 3928
E-mail:
Media
Ola Rembe
Vice President, Head of Corporate Public and Media Relations
Phone: +46 10 719 9727, +46 730 244 873
E-mail:
Corporate Public & Media Relations
Phone: +46 10 719 69 92
E-mail:
Telefonaktiebolaget LM Ericsson (publ)
Org. number: 556016-0680
Torshamnsgatan 23
SE-164 83 Stockholm
Phone: +46 10 719 0000
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 20.10.2011 - 07:21 Uhr
Sprache: Deutsch
News-ID 78264
Anzahl Zeichen: 0
contact information:
Town:
STOCKHOLM, SWEDEN
Kategorie:
Telecommunication Equipment
Diese Pressemitteilung wurde bisher 271 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Ericsson reports third quarter results"
steht unter der journalistisch-redaktionellen Verantwortung von
Ericsson (Nachricht senden)
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