STOCKHOLM: Ericsson AB posted earnings that missed analyst estimates for the first time in six quarters and warned its rollout of 5G mobile networks in Asia would weigh on profits, in a rare setback to chief executive officer Borje Ekholm’s turnaround efforts.
With Ericsson battling Finland’s Nokia Oyj and China’s Huawei Technologies Co for pole position in 5G, Ericsson said the first big deployments in Asia will gradually pull down profit margins, although not enough to jeopardize profitability targets for 2020.
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