Ericsson Sees Weaker Sales and Orders
Reuters
Telecom equipment maker Ericsson said its sales and orders would fall in the July-September quarter, sending its share price plunging to 10-year lows. But the Swedish firm stood by its forecast of mobile network sales falling more than 15% this year and stabilizing next year.
Ericsson also said it would lay off more than 1,000 employees at two Swedish plants.
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