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Ericsson to take large provisions as new CEO sets out strategy

Wednesday, March 29, 2017 - 05:50

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Mr Ekholm has already slashed Ericsson's dividend as he tries to reverse a sales plunge caused by fierce competition amid a slowdown in spending by wireless carriers.

Helsinki

ERICSSON AB will book as much as 15 billion Swedish kronor (S$2.4 billion) in extra costs in the first quarter as new chief executive officer Borje Ekholm resizes the wireless network maker for leaner times.

Mr Ekholm, who took over in January, is cutting costs and

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