STOCKHOLM :Swedish telecom equipment maker Ericsson said on Thursday it was committed to reaching the lower end of its long-term target of a profit (EBITA) margin of 15-18 per cent by 2024 as it outlined strategy to investors.The company, one of the world's biggest suppliers of 5G technology, also said it was
STOCKHOLM :Swedish telecom equipment maker Ericsson said on Thursday it was committed to reaching the lower end of its long-term target of a profit margin of 15-18 per cent by 2024 as it outlined strategy to investors.
Ericsson reported an EBITA margin of 11.2 per cent for the third quarter as higher investment in technology, selling expenses and one-off costs weighed on profitability. Shares in the company were down 1.6 per cent by 1413 GMT. While demand for 5G equipment has been strong, the early stages of a rollouts tend to have lower margins, meaning telecom groups such as Ericsson and Finnish rival Nokia rely on patent royalties to boost profits.
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