Ericsson said today it expected the uncertainty impacting its mobile networks business to persist into 2024, after reporting a fall in third-quarter revenue as demand for 5G equipment fell in North America.
The company, which pre-announced its results last week and took a $2.9 billion impairment charge on its Vonage acquisition, said it expects current quarter results to be similar to the third quarter.
Gear makers such as Ericsson and Nokia have been hit by a slowdown in spending by telecoms companies. "We have proven that cost cutting is something we are good at...should the market and our financial performance require it, we can do more," he said.
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