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With this said I would like to hand over now to Hans Vestberg for comments about our performance and plans going forward.Hans Vestberg Thank you, Ase. So let me start by going over a little bit on the trends in the quarter. We saw pretty much the same pattern in the second quarter as we’ve seen now, basically the second quarter 2009. Meaning that, we see strong mobile broadband or good mobile broadband development. We see also North America and Professional Services continue. but then on the other hand, we see the markets that had an impact from the financial crisis, either from structure point of view or financial credit point of view, currency point of view, are still very slow in investment, and then of course, hearing another caution from those operators. So, that is very much the same pattern that we’ve had ‘09, Q3, Q4, and Q1, and as we actually start to talk about the Q4 call 2008. So, the mixed operator investment activity is still prevailing and it is great variations. We see in continuation of a good demand from mobile broadband, we’re seeing even more Android phones coming out in markets, smartphones and connected devices, of course, bringing data growth there. I think that is encouraging scene. We’ve also seen some initial changes to the pricing or data where some operators had started with tiered pricing for data traffic, which we have outlined in our Capital Markets Day as important trend to follow to see how that turns out and we are now seeing some operators. We see continuing focus on network quality and efficiency. As we’ve said at the Capital Markets Day, there is quite a substantial portion of the radio base station out in the world that need to be modernized, many of them actually in Europe because Europe was early out on GSM and 3G.
That will mean that we’re going to see modernization in Europe quite a lot to encounter that. There are other regions as well, but I would say the big portion on that is happening in Europe.When it comes to the components, we talked about the components shortage in the first quarter, where we saw the capacity of the supplier components was not enough when different industries were coming up in volume and demand. They reduced their capacity dramatically when the crisis started and the ramp up has not really come up to the levels. Latin, we had some impact in the first quarter and you’ll remember we went through that. In the second quarter that impact has continued, and what we can see is that we actually got the gradual improvement in the quarter and actually there was no deal in the quarter, it actually was in the last month that we had high volumes at the end of the June month. That, of course, impacted us in several areas. I will come back to that. Of course, the toughest for us is that we’re not able to deliver to our customers that were expected to get delivered for us in this quarter. Of course, when you get the supply chain high volumes late in the quarter, then of course, logistics and inflation has to happen as well and that was hard to finish in the quarter. A couple of the recent events that we think are important happened in the quarter and after the quarter. We closed the LG-Ericsson, nowadays called the LG-Ericsson, in the previous LG-Nortel. We are happy to be a leading vendor in the Korean market. We closed that at 30 of June, meaning that we have an impact on the balance sheet for the acquisition. We are not paid all, but the main part is paid, but that has an impact on our balance sheet, but we had no impact on the P&L. That we will have in the second half of this year. Read the rest of this transcript for free on seekingalpha.com