Ericsson warns of 2024 market decline despite Q4 earnings beat cyprus-mail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cyprus-mail.com Daily Mail and Mail on Sunday newspapers.
STOCKHOLM (Reuters) -Ericsson said it expects further decline in 5G gear demand from mobile operators this year including in key growth market India, after beating fourth-quarter operating profit expectations on Tuesday helped by software sales. Telecoms equipment suppliers are expecting a challenging 2024 as 5G equipment sales - a key source of revenue - are slowing in North America, while India, a high growth market, is also set for a slowdown. "We expect the current market uncertainties to prevail into 2024 with a further decline of the RAN (Radio Access Network) market outside China as our customers remain cautious and the investment pace is normalising in India," CEO Börje Ekholm said in a statement.
Ericsson s Q4 earnings beat forecasts rte.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rte.ie Daily Mail and Mail on Sunday newspapers.
Nokia's preliminary results and profit warning and Ericsson's lackluster earnings and less than inspired guidance were driving those stocks lower on Friday.