Ericsson insists strategy is still on track after another difficult quarter

Shares in Swedish kit vendor took another tumble after it lamented ongoing market uncertainty with no end in sight.
Overall sales were down 10% year-on-year and gross margin was within the historical range. But once you factor in the massive goodwill write-down on the Vonage acquisition, Ericsson had to report a loss of over SEK 30 billion for the quarter. Furthermore the EBITA margin, which Ericsson has long pledged to hit at least 15% by 2024, declined significantly year-on-year. This led the