Ericsson shares plunge on China woes

It’s official: Ericsson is being punished by China for Sweden’s decision to ban Huawei. Otherwise thing’s are looking OK for the kit vendor.
Ericsson’s net sales fell 1% year-on-year buy were up 8% when adjusted for adjustments that once more worked in Ericsson’s favour. The reason for this was a sales decline of SEK 2.5 billion in mainland China. If those had remained flat Ericsson’s overall net sales would have been up 3% so China accounted for a 4 percentag