Ericsson Falls as It Forecasts Wider Losses in Mobile Phone Division
LONDON -- For something that has become so small and light, the cell phone is weighing very heavily on Ericsson's (ERICY Quote) balance sheet.
The Swedish maker of wireless infrastructure and handsets announced Friday morning that although its third-quarter profits rose, the company expects increased losses at its troubled consumer products division. Ericsson cut its revenue outlook for full-year 2000. The company's shares were down 13% by midday.
The continuing problems at the consumer products division is detracting investors' attention from Ericsson's very successful infrastructure business, prompting questions about whether a sale or, at the very least, the company striking up a partnership with another handset maker is the best way forward. ...
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