Ericsson turnaround hopes hit by weaker U.S., Japanese demand

By Sven Nordenstam and Simon Johnson STOCKHOLM (Reuters) - Ericsson's turnaround drive was thrown into doubt on Thursday as the world's biggest mobile networks maker missed third-quarter profit forecasts and said sales were coming under pressure in the United States and Japan. Shares in the Swedish group dropped 7 percent, the biggest fall by a European blue-chip stock, and dragged down rivals Nokia and Alcatel-Lucent. A decade-long price war in Ericsson's industry, launched by Chinese vendors Huawei and ZTE, has already forced suppliers like Nortel and Motorola out of the market. ...

via Tech News Headlines - Yahoo! News http://news.yahoo.com/ericsson-turnaround-hopes-hit-weaker-u-japanese-demand-121349492--business.html