Stockholm - Swedish telecommunications giant Ericsson on Thursday posted an increase in first-quarter 2009 sales - but net income fell dropped dramatically due to losses attributed to its joint venture Sony Ericsson.
Pre-tax income in the quarter totalled 3.3 billion kronor (400 million dollars), a 25 per cent decline year-on-year but better than analysts had predicted.
Net income - after losses and restructuring charges - dropped 30 per cent to 1.8 billion kronor while sales increased 12 per cent to 49.6 billion kronor, Ericsson said.