STOCKHOLM: Telecom equipment and services group Ericsson tempered its outlook for growth in its main market segments on Thursday and said it planned to cut costs by 9 billion Swedish crowns ($1.21 billion) with full effect in 2017.
The world's biggest mobile network gear maker it expected growth of 3-5 percent for its total market in 2013-2017, its first numerical stab at such an overall forecast, but also scaled back its expectations for growth in its main market segments.
The Swedish company said it expected compound annual growth of 2-4 percent in the network equipment market in the period while telecom services market were seen expanding 4-6 percent and support solutions 7-9 percent.
The forecasts are slightly lower than its previous view, released a year ago for the 2012-2016 period.
Then it saw 3-5 percent annual growth in the network equipment market, 5-7 percent growth for the telecoms services market and 9-11 percent growth for support solutions.
Comments
Comments are closed.