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Ericsson Earnings Fall amid Weakening Profit Margins

Swedish network equipment vendor Ericsson (ERIC) suffered a fall in first-quarter earnings as strong sales in North America failed to compensate for restructuring charges and low margins on network rollouts.Ericsson has struggled with sluggish demand in past quarters as the telecom operators which buy its network equipment have been slow to invest during the global economic slowdown. Its profit margins have also suffered as the company has pursued low-margin network upgrade contracts in Europe in order to boost its market share.Ericsson's closely-watched gross margin fell to 32% in the first quarter from 33.3% a year earlier, against expectations for 33.1%.Still, Chief Executive Hans Vestberg reiterated the company's earlier expectations that the negative margin impact from network modernization projects in Europe will gradually decline in the current year."While macroeconomic and political uncertainty continues in certain regions, the long-term fundamentals in the industry remain attr...

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