Ericsson saw a 10% drop in group organic net sales during the most recent quarter, continuing a streak of softening in the network equipment market.
The company saw a particularly steep year-over-year drop in the North American market, where sales were down 60% from a record third quarter last year. However, sales were only down 2% from the second quarter of this year and “in line with previous trends,” Ericsson noted in a release. In this year’s third quarter, Ericsson said that the decline in North America was partially offset by growth in India and a return to investment in some markets which had been early 5G adopters.
