Ericsson's net income up 172 percent in 2010

08:22, March 04, 2011      

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Global telecommunication giant Ericsson on Thursday reported that its 2010 net income reached 11.2 billion kronor (some 2 billion U.S. dollars), an increase of 172 percent year on year.

"Net income increased 172 percent to 11.2 billion kronor, mainly due to improvements in earnings in our joint venture Sony Ericsson and less restructuring charges," Hans Vestberg, president and CEO of Ericsson, said in a statement.

Vestberg said that the company was still impacted by the global economic slowdown in the first half of 2010, but did better in the latter part of the year due to strong mobile broadband sales, especially in North America and Japan.

Source: Xinhua
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