Ericssons vd Hans Vestberg på kapitalmarknadsdagen. Foto: Anders Jelmin/Sveriges Radio
Ericsson CEO Hans Vestberg. File photo: Anders Jelmin/Sveriges Radio

Ericsson Q4 profits 30% down

Swedish multinational telecom giant, Ericsson, posted fourth quarter profits of SEK 6.3 billion, 30 percent down from the same period a year before.

Swedish Radio News reports that the company's sales in its biggest market, North America, have continued to diminish, but CEO Hans Vestberg says that in the long-term, the American market is still developing well.

In November, the company launched a cut-back program which would eventually help them save SEK 9 billion per year.

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