Ericsson profit miss sours hopes of quick turnaround

The exterior of Ericsson's headquarters are seen in Stockholm April 30, 2009. REUTERS/Bob StrongBy Simon Johnson STOCKHOLM (Reuters) – World No. 1 mobile network gear maker Ericsson posted second quarter operating profit well below expectations on Thursday, bruising hopes of a quick recovery at its core network unit. In a quarter hit by a large one-off charge, sales and margins at Ericsson's networks unit were well below expectations, underlining competition from Chinese equipment vendors like Huawei as well as global economic gloom and currency headwinds. …


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