Ericsson has reported its best quarterly margins in 14 years, as its strategy to improve profitability and strong Chinese demand for 5G equipment combined to lift its performance.
The results sent shares in the telecoms equipment maker up 7 per cent in early trading on Wednesday, as shareholders cheered signs that a three-year plan to cut costs and invest in its technology was beginning to pay off.
However, the improvement comes against a backdrop of geopolitical tension after the Swedish government banned the use of equipment from Chinese suppliers Huawei and ZTE for the country’s 5G networks. That has provoked concerns about potential retaliation by the Chinese government against Ericsson, a Swedish company.
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