The Swedish network equipment supplier Ericsson increased its sales in the third quarter to 57 5 billion Swedish kronor (about 5.6 billion euros) by one percent year-on-year. The high demand for components for the expansion of 5G mobile networks played into the cards for the company.

As Ericsson announced on Wednesday in Stockholm, The profit adjusted for special costs for the corporate restructuring rose from 6.5 to 9 billion crowns. Analysts had expected less. The bottom line is that Ericsson will have around 5.6 million kroner of this in the third quarter.

The network division increased its sales by 13 Increase percent. According to Ericsson, this was mainly due to the demand for network components in Northeast Asia, North America and Europe, while sales in Latin America and Africa declined. Ericsson attributes the decline there to the strong effects of the corona pandemic.

Less competition Overall, Ericsson is currently benefiting from The ongoing development and expansion of 5G networks is based on the fact that some countries are foregoing network components from Chinese competitor Huawei in their 5G networks due to security concerns – most recently also Ericsson’s home country Sweden. Since only a few companies can offer the necessary equipment, many are now using Ericsson’s offer.

Ericsson boss Börje Ekholm has no doubt that the annual target will be achieved. The previous