Ericsson shares fall on outlook

Shares in LM Ericsson AB fell to the lowest level since 2004 on Wednesday, a day after the Swedish telecommunications company said its fourth-quarter revenue will be at the low end of an already somber forecast.

Speaking at an investor briefing Tuesday in New York, Ericsson Chief Executive Carl-Henrik Svanberg said tightening markets in Europe and the U.S., as well as political unrest in emerging markets such as Pakistan, were hurting sales for the wireless equipment maker.

For 2008, Ericsson said it expected current market conditions to prevail, and its longer-term market outlook is unchanged.

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- Posted: 2007-11-21 10:39:25

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