Ericsson first-quarter operating profit lags forecasts

STOCKHOLM (Reuters) - Mobile telecom equipment maker Ericsson posted first-quarter operating profit below market expectations on Thursday and said it expected the fast rollout of 4G networks in China to continue while business in North America would remain slow in the short term. Operating profit was 2.1 billion Swedish crowns (160 million pounds) compared to 2.6 billion in the year-ago quarter and below a mean forecast of 3.3 billion crowns in a Reuters poll of analysts. Sales at Ericsson, the