Ericsson 4th quarterly profits soar

Profits at Swedish telecoms company Ericsson increased more than tenfold in the fourth quarter, thanks in part to a strong development in mobile broadband.

Tuesday's report shows a quarterly net profit of 4.3 billion kronor ($652 million), up from 314 billion kronor a year ago. In 2010, mobile broadband subscriptions increased 30% to approximately 500 million.

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