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Ericsson Hunkers Down, Booking Around $2 Billion in Charges as Telecoms Business Slows – Wall Street Journal (subscription)

Ericsson Hunkers Down, Booking Around $2 Billion in Charges as Telecoms Business Slows – Wall Street Journal (subscription)

Sweden’s Ericsson AB said it was taking charges of between 16 billion and 21 billion Swedish kronor ($1.8 billion and $2.4 billion) this year in its latest attempt to draw a line under a costly retooling of its telecom-equipment business, amid falling sales and fierce competition from Chinese rivals.

The supplier of wireless-communications gear said it would book most of the charges—between 12 billion and 15 billion Swedish kronor—in…

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