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Ericsson flags losses from China 5G contracts, takes 1 billion SEK charge


Ericsson flags losses from China 5G contracts, takes 1 billion SEK charge

June 10, 2020 at 8:18 AM

Ericsson expects to take a second-quarter writedown of about 1 billion crowns ($109 million) on product inventory in China, the Swedish telecoms gear maker said on Monday.The company, which has won 5G contracts from three major operators in China, said it expected negative gross margins in China in the quarter reflecting the high initial costs for new products.

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