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Ericsson’s miserable quarter makes Nokia’s look respectable

Once again, Ericsson and Nokia reported contrasting sets of quarterly results. While Nokia showed signs of improvement in revenue and profit, its Nordic rival was still steeped in misery, with its fifth quarter in a row of operating losses and a full-year drop in revenue of almost 10%. In addition, it has failed to offload all of its media unit, though it is selling a 51% stake, and former CTO Ulf Ewaldsson is being sidelined, having failed to turn around the troubled digital services unit. For the full year, Ericsson reported revenues of SEK201.3bn ($25.66bn), down 9.6% on the 2016 figure, with an operating loss of SEK38.1bn ($4.86bn), reversing a year-earlier profit of SEK6.3bn ($803m). The revenue figure is particularly…

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