Ericsson Revenue's Fall 14% Amid Weak Broadband Demand
Ericsson
Stockholm - QNA
Swedish mobile networks company Ericsson said Wednesday that it forecasts significantly lower earnings for a considerable time into the future.
The company's revenue fell 14% in the third quarter of 2016, compared to the same period of last year. The decline was mainly due to lower demand on broadband networks, AP reported. CEO Jan Frykhammar said that weaker demand is likely to persist in the short-term.
On the company's plans, Frykhammar said they would continue reducing their cost of sales. Last week, Ericsson announced 3,000 job cuts in Sweden, equivalent to 20% of its local workforce. It plans to downsize operations by $1 billion in 2017.
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In The Swiss Alps
Five things to know about Davos
Davos - Muslimchronicle
With the World Economic Forum kicking off in earnest on Tuesday, AFP presents a guide to the week-long event in the Swiss Alps. - WHAT IS ‘DAVOS‘? - Davos is shorthand forfighting hate speech
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Brussels - Muslimchronicle
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Russians challenge doping ban
Geneva - Muslimchronicle
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Saudi-led coalition announces $1.5bn
Sanaa - Muslimchronicle
The Saudi-led coalition fighting in Yemen has pledged $1.5bn (£1.1bn) in new humanitarian aid for the country. It will also increase the capacities of Yemeni ports to receive aid and cargo shipments, and set up 17 "safe-passage corridors" for humanitarian groups. ThreeParis show pays homage
To 'eternal style' of late Alaia
Paris - Muslimchronicle
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opened Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led his
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