Mobile Phone Sales Fall for Ericsson

As more companies in Sweden are giving workers notice and more local governments are warning that they will have to fire more people in the service industry to balance their sagging budgets, the Swedish-Japanese mobile phone company Ericsson has come out with a dismal forecast of its own.

It claims the sales of cell phones this year is very low because of the global crisis and that the rest of the year looks gloomy.

The value of shares in the company has also fallen.

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