3g-g
22nd April 2005, 03:28 PM
Reported by the BBC. (http://www.bbc.co.uk)
Telecoms equipment maker Ericsson has unveiled a rise in quarterly profits, boosted by investment in third generation (3G) mobile technology.
The Swedish company reported better-than-expected first quarter profits of 6.7bn kronor ($955m; £499m), compared with 3.7bn kronor last year.
Ericsson said it had benefited from the deployment of 3G systems and upgrades to older GSM networks in Europe.
On Thursday, mobile phone makers Nokia and Motorola reported gains in profits.
'Growing faster'
Ericsson president and chief executive, Carl-Henric Svanberg, said he was confident about his company's performance.
"Nokia is growing by 6%, while we are growing 17% in local currencies. That says a lot about us growing faster than the market," Mr Svanberg told Swedish radio.
Ericsson's first quarter profits beat analysts' forecasts for earnings of 6.1bn kronor.
The firm said it was continuing to see solid demand in emerging markets, but said it was maintaining a forecast for slight growth in the mobile networks market in 2005.
Telecoms equipment maker Ericsson has unveiled a rise in quarterly profits, boosted by investment in third generation (3G) mobile technology.
The Swedish company reported better-than-expected first quarter profits of 6.7bn kronor ($955m; £499m), compared with 3.7bn kronor last year.
Ericsson said it had benefited from the deployment of 3G systems and upgrades to older GSM networks in Europe.
On Thursday, mobile phone makers Nokia and Motorola reported gains in profits.
'Growing faster'
Ericsson president and chief executive, Carl-Henric Svanberg, said he was confident about his company's performance.
"Nokia is growing by 6%, while we are growing 17% in local currencies. That says a lot about us growing faster than the market," Mr Svanberg told Swedish radio.
Ericsson's first quarter profits beat analysts' forecasts for earnings of 6.1bn kronor.
The firm said it was continuing to see solid demand in emerging markets, but said it was maintaining a forecast for slight growth in the mobile networks market in 2005.