Ericsson net up 19%; CEO says India remains highest growth region

Swedish telecom equipment manufacturer Ericsson on Friday said India remained the highest growth region for the company during the third quarter of this financial year.

“India remained the highest growth region for Ericsson and grew by 81 per cent year-on-year (YoY) and 19 per cent quarter-on-quarter (QoQ),” the company said.

Q3 figures Overall, the company reported a net income of 3.1 billion Swedish krona during the quarter, up 19 per cent, compared to 2.6 billion Swedish krona in the corresponding period last year.

New global sales also rose 3 per cent YoY to 59.2 billion Swedish krona in the last quarter, against 57.6 billion Swedish krona in the same quarter last year, Ericsson said.

Sales pattern “Sales, adjusted for comparable units and currency, decreased 9 per cent, due to lower sales in networks. This was partly offset by continued solid sales growth in professional services. Profitability improved YoY, with lower operating expenses as a significant contributor,” Hans Vestberg, President and Chief Executive Officer of Ericsson, said in a statement.