Ericsson watches Nokia profits soar

Ericsson watches Nokia profits soar
Alex Mayhew-Smith Changing fortunes among mobile phone manufacturers has seen Ericsson report a 51 per cent fall in pre-tax profits for its first quarter and rival Nokia record a 96 per cent rise in its profits for the same period. Ericsson blamed its results on increased costs in research and development, the Millennium Bug and restructuring.


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