The scale of the ongoing coronavirus pandemic’s global impacts are becoming clear, Ericsson executives said, but the company was nonetheless able to deliver a “solid quarter.”
Ericsson reported essentially flat year-over-year sales, but said that its network segment grew by 4% from the same period last year. The company’s net income was up 40% year-over-year to about $290 million. The company highlighted a strengthened position in the Chinese 5G market, which it said is strategically important as a “driver of critical future requirements” and scale for Ericsson’s business.
