Ericsson continues to cash in on 5G momentum - Mobile World Live 21 APR 2021
Ericsson pointed to an organic sales uplift of 10 per cent during Q1 2021, primarily driven by growth of its Networks unit, as CEO Borje Ekholm argued the company was well positioned to take advantage of continued 5G market momentum throughout 2021.
The Swedish vendor stated sales for comparable units and currency grew 10 per cent year-on-year to SEK49.8 billion ($5.9 billion), with net income rising 39 per cent to SEK3.2 billion. On a constant currency basis, the sales figure was flat.
Ericsson explained it achieved organic growth despite a SEK1.6 billion hit to licensing revenue related to a patent fight with Samsung, as four out of five business areas made double-digit gains.
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