Ericsson on Thursday admitted some telecoms operators were postponing orders for mobile network equipment because of the global recession, as its first-quarter earnings were hit by losses at its joint ventures that make handsets and microchips.
ST-Ericsson, Ericsson’s partnership with STMicroelectronics that manufactures semiconductors, announced plans to axe 15 per cent of its workforce after reporting a maiden net loss of $89m.
