Ericsson's sales up 7.5% in Middle East

Global sales remain flat due to currency fluctuations, says CEO
Hans Vestberg, CEO of Ericsson.
Hans Vestberg, CEO of Ericsson.

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Ericsson, the world’s biggest telecoms vendor, managed to increase its second quarter Middle East sales by 7.5% year-on-year to reach SEK 3.98 billion ($609m).

The Sub Saharan Africa region fared less well, with sales declining by almost 5% to SEK 2.65 billion.

Globally, sales were broadly flat in Q2, with net sales of SEK 55.3 billion, due to “continued currency headwind,” according to Hans Vestberg, president and CEO, Ericsson.

The company posted second-quarter earnings before interest and tax, of SEK 2.5 billion ($380 million), compared to SEK 2.1 billion in the same quarter last year.

Results were hit by a SEK 0.9 billion one-off charge for divestments and higher than expected restructuring costs, the company said.

“While the macroeconomic situation in Europe remains challenging and the political uncertainty in parts of Region Middle East, such as Egypt, increases, the long - term fundamentals in the industry remain attractive and we are well positioned to continue to support our customers in a transforming ICT market,” Vestberg said.


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