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Ericsson’s Q1 profits slide, sales remain stable

Swedish telecoms equipment vendor Ericsson had a stable quarter in terms of sales in the first three months of this year, but suffered a 86% slip in net profits in the period due to restructuring charges.

CEO Hans Vestberg comments that a small 2% year-on-year increase in overall sales was mainly driven by the Networks business and rollout services, following high project activities in Europe and North America.

Sales by the Networks business rose 3% year-on-year, while the smaller Global Services division achieved a 4% increase by the same comparison, and the Support Solutions unit suffered a 19% decline.

“The underlying business mix, with a higher share of coverage projects than capacity projects, continued as anticipated during the quarter,” said Vestberg.

“With present visibility of customer demand, and current global economic development, we continue to believe that the underlying business mix will start to gradually shift towards more capacity projects during the second half of 2013.

The Ericsson chief also briefly mentioned that he plans to strengthen the company’s position in the media business following the purchase of Microsoft’s Mediaroom earlier this month.

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