Ericsson beats analyst targets

Forecast-topping results from Ericsson yesterday showed the world’s top mobile network gear maker can still out-muscle rivals, even as global growth slows.

It posted core profits of £605m, with sales were well above forecast. Its key networks unit posted 25 per cent growth.

Smartphones and tablet computers have fuelled demand for faster, more efficient networks, driving sales for Ericsson in recent quarters.