Ericsson says mobile phone sales for its third quarter are down 42 per cent on a year ago at £548.8 million sterling.
It now expects to sell 400 million handsets worldwide this year - at the low end of its previous estimates of 400 million to 440 million.
Ericsson has been hard hit in its mobile phone division and has spun off most of its phone operations into a joint venture with Sony that began operations on October 1st.
The company says its restructuring programme has been successful, carrying out 6,800 of the 10,000 planned job cuts.
READ MORE
It said its work force - at 107,000 in March - is now below 90,000 and that it is ahead of schedule to save £1.3 billion a year starting in 2002.
PA