Ericsson, the troupe that makes the net equipment that powers AT&T’s network, and who accidentally sent the installation instruction manual in Swedish rather than English language thereby explaining why their net sucks so much, reported their Q4 2009 numbers pool yesterday and as expected they were brutal. Operators in horse opera Europe and northland America are not purchasing net equipment, the ones who are in Asia and several emerging countries are buying from Huawei, and Nokia (NYSE: NOK) Seimens Networks has admitted, several multiplication, that the stream monetary value war between all triplet vendors is so bloody that it can’t continue.
Profits in Q4 09 are down 94% compared to Q4 08, from 3.9 billion Swedish kronor ($538.7 1000000) to 314 million Swedish kronor ($43.4 million). Full class profit ar not looking any bettor, down 67% to only 3.7 one thousand million Swedish kronor $512 million. With lowered profit come pink slips, and while Ericsson has already been cut during the course of 2009, over 900 people in Dec alone, they’ve announced that they’ll be an additional 1,500 people. Said positions will not be from the recently acquired Nortel Networks (New York Stock Exchange: NT).
Happy New Year indeed.
[Via: The Canadian Press]
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