The company, one of the world's biggest suppliers of 5G wireless technology, said in a statement ahead of investor presentations in New York that it also aimed to generate free cash flow before M&A of 9-12% of sales in the same time frame.

Ericsson reported an EBITA margin of 11.2% for the third quarter as higher investment in technology, selling expenses and one-off costs weighed on profitability.

Last week, the Stockholm-based company announced it had struck a global deal with Apple to end a long-running legal battle over royalty payments over the use of 5G patents in iPhones that has dented profits and shares this year.

(Reporting by Niklas Pollard, editing by Terje Solsvik)