Earnings: Ericsson Reports Profit Up For

Ericsson (Nasdaq: ERIC) on Friday posted a rise in profits in 2006 but by revised its 2007 forecast downward. Ericsson reported a net profit in 2006 of $3.8 billion dollars, up 8.2 percent on the previous year thanks to its joint venture with Sony. That joint venture, Sony Ericsson, the number four mobile phone company, last month announced it had tripled its net profit in the fourth quarter of 2006 to 447 million euros. The Swedish company said sales in the fourth quarter of 2006 alone were 53.7 billion, a 17.5-percent increase on the same quarter in 2005. Although it was expecting growth of 4 to 6 percent this year, its main market — second-generation GSM and third-generation WCDMA networks, which make up 80 percent of mobile networks

Comments have been disabled for this post