Ericsson sales up 9% in Q1

April 25, 2008 – Ericsson has posted sales of SEK 44.2bn (US$ 7.4bn) for the first quarter of this year, representing an increase of 9% year-on-year, while net profit reached SEK 2.6bn for the period.

The company added that sales by its Multimedia division rose 16% in the first three months of this year by the same comparison, largely driven by acquisitions.  Business activity was described as being high in the quarter with “important reference contracts in IPTV as well as increased traction in TANDBERG Television”.

Carl-Henric Svanberg, President and CEO of Ericsson, commented: “Our business developed well in the quarter, considering the present market environment and the declining USD."

TANDBERG Television and mobile platforms accounted for the “vast majority” of sales for Ericsson’s Multimedia division, and the company reportedly plans to leverage this and invest in new areas for future growth, such as IPTV, IMS and enterprise applications.