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. Last Updated: 07/27/2016

Ericsson Profits Jump

STOCKHOLM () -- Ericsson on Tuesday met market expectations with a 30 percent jump in nine-month profits, which boosted hopes that the Swedish telecommunications giant would ring up further growth, led by its mobile phone unit.

Ericsson reported a nine-month pre-tax profit of 6.26 billion crowns ($954 million) against 4.81 billion crowns a year ago, but it rang a warning note that increasing competition in the global telecommunications sector could impact profit margins.