Ericsson

(ERICY)

retreated 10.7% in early afternoon after it forecast little or no growth in the U.S. telecom market and 8% to 10% growth worldwide. The company, however, did tout its continued market-share gains in mobile communications.

Ericsson has been suffering since a profit warning March 12, and its stock price was hurt further when it cut 3,300 jobs Tuesday.

Motorola

(MOT)

fell 6.1% and

Nokia

(NOK) - Get Report

gave back 7.8%.