Ericsson

(ERICY)

was down 18.4% in early trading after hitting a 52-week low of $6.81. The Swedish telecom-equipment maker warned that it expects a loss of $400 million to $500 million in the first quarter instead of a near break-even result.

Ericsson said sales will be flat or down slightly instead of rising 15% as forecast. Ericsson's share fell to 17-month lows in Europe today. Finnish rival

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Nokia

(NOK) - Get Report

was down 3.7%.

Motorola

(MOT)

was down 5.5%.