Ericsson said its like-for-like sales rose 7% year-on-year (adjusting for for currency movements) in the second quarter to 55.3 billion Swedish krona (8.37 billion U.S. dollars). The Stockholm-based company reported that networks sales increased 8% year-on-year, with strong growth in North America and Latin America as well as Western and Central Europe, while sales continued to decline in North East Asia.
Ericsson Hans Vestberg, President and CEO said: "We implemented our strategy to capture new market share in the network modernization projects in Europe starting in 2010, despite their initial lower margins. Now that these projects gradually come to an end, we can conclude that we have been successful in gaining market share and regained leadership in Europe. It is also encouraging to see that we are now starting to engage in new business, based on this footprint, regarding capacity and LTE projects in Europe.
"We continue to strengthen our leading position in 4G/LTE. The vendor selection processes for 4G/LTE in Russia and China continue and to date we have been awarded contracts by two large operators in Russia. During the quarter we also reached one billion subscribers in networks managed by Ericsson." source: Ericsson presentation
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