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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Ericsson AB    ERIC B   SE0000108656

ERICSSON AB

(ERIC B)
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Ericsson : Nokia CEO sees possible benefits from Huawei tensions

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05/21/2019 | 10:58am EDT
FILE PHOTO: Rajeev Suri, Nokia's President and Chief Executive Officer, speaks during the Mobile World Congress in Barcelona

HELSINKI (Reuters) - Nokia Chief Executive Rajeev Suri said on Tuesday the company could benefit from a U.S. clampdown on Chinese rival Huawei as the race to roll out 5G services heats up.

Asked about the regulatory problems facing Huawei, he told investors: "Perhaps there is long term opportunity but more than that, it's hard to say at this point."

Analysts expect Nokia and its Swedish peer Ericsson to benefit from tensions between the United States and Huawei, the largest supplier of mobile network technology.

Nokia last month reported a surprise quarterly loss after it failed to supply 5G telecoms equipment in time.

Suri acknowledged the company had been a little slow in getting 5G technology up and running, citing merging its own technology plans with those of acquired Alcatel-Lucent as a reason.

"We are late in 5G by a few weeks to a couple of months," Suri told the Finnish company's annual shareholder meeting.

Nokia said it has won one additional commercial 5G contract since it reported first quarter earnings in late April.

"We are winning deals and rolling out some of the world's first 5G networks," Suri said.

"We now have 37 5G commercial contracts - 20 with named customers including T-Mobile, AT&T, STC, and Telia - and more than half of them include wider portfolio elements that our competitors cannot match," he added.

Suri told investors he remained confident the company would reach its annual financial guidance. Nokia repeated in April its forecast for 2019 underlying diluted earnings per share of 25-29 euro cents, and non-IFRS operating margin of 9-12%.

Shares in Nokia were up 1.9 percent in late trading in Helsinki.

(Reporting by Anne Kauranen; Writing by Tarmo Virki; Editing by Keith Weir)

Stocks treated in this article : Ericsson AB, Nokia Oyj
Stocks mentioned in the article
ChangeLast1st jan.
ERICSSON AB 1.01% 91.86 Delayed Quote.16.71%
NOKIA OYJ 1.08% 4.4475 Delayed Quote.-12.52%
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Financials (SEK)
Sales 2019 218 B
EBIT 2019 20 361 M
Net income 2019 10 171 M
Finance 2019 19 604 M
Yield 2019 1,35%
P/E ratio 2019 29,67
P/E ratio 2020 21,02
EV / Sales 2019 1,34x
EV / Sales 2020 1,27x
Capitalization 312 B
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Mean consensus HOLD
Number of Analysts 21
Average target price 92,6  SEK
Spread / Average Target -1,1%
EPS Revisions
Managers
NameTitle
Erik Börje Ekholm President, Chief Executive Officer & Director
Ronnie Leten Chairman
Carl Mellander CFO, Senior VP & Head-Group Function Finance
Erik Ekudden Senior Vice President & Chief Technology Officer
Torbjörn Nyman Director
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