Ericsson profit misses forecasts, hit by China slowdown

By Sven Nordenstam and Eric Auchard STOCKHOLM/FRANKFURT (Reuters) - Slowing demand for new mobile networks in China pushed third quarter sales and profit for Sweden's Ericsson below forecasts and reinforced concerns that another major growth market had passed its peak. Like-for-like sales at Ericsson, the world's biggest maker of mobile telecoms network equipment, dropped 9 percent in the third quarter, with declines in China and Europe. Ericsson and industry rivals are in the middle of a decade