News > Ericsson's Q2 sales fall a smaller than expected 7%

Ericsson's Q2 sales fall a smaller than expected 7%

Swedish telecom gear maker Ericsson reported a smaller-than-expected 7% drop in second-quarter sales as sluggish demand for 5G gear in most markets was slightly offset by 14% growth in North America. Revenue dropped to 59.9 billion crowns from 64.4 billion crowns a year ago. Analysts had forecast revenue of 58.3 billion crowns in an LSEG poll. Ericsson and rival Nokia have had to slash thousands of jobs as customers buy less 5G telecom equipment.