THE RESULTS: Swedish wireless equipment maker LM Ericsson saw its second-quarter profits slashed to almost a third.
WHAT HAPPENED: Sales of network infrastructure slowed in China and Russia. The company focused on the more stable — but less profitable — business of offering support services to operators.
OTHER FACTORS: The company’s profits were also hit by challenges faced by its ST-Ericsson chip-making joint venture, owned together with STMicroelectronics N.V., whose sales of new products have suffered.
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