Ericsson has posted its financial results for the third quarter of 2012.
The telecom networking equipment manufacturer has reported a 42 per cent decline in profit for the period under consideration.
The company’s profit at the end of September 2012 stood at $327 million. Its sales declined by 2 per cent to 54.6 billion kronor for the third quarter of 2012 from 55.5 billion kronor in 2011.
The company has experienced weaker sales in parts of Europe, China, Korea and Russia, coupled with a continued decline in the sale of its CDMA equipment. However, the company continues to register gains in North America. Its operating margin on a quarter-on-quarter (QoQ) basis has remained stable.
The company’s global sales increased by 19 per cent year on year (YoY), while its operating margin has decreased YoY due to higher share of coverage projects and modernisation projects in Europe. Its QoQ operating margin increased due to lower opex.
