Ericsson’s global sales surge for the second quarter

Stockholm: Telecom giant Ericsson reported a surge in global sales for the second quarter of the 2015-16 fiscal year, as the company executed its cost-savings program.

Sales in the second quarter totaled $7.05 billion, an 11 percent increase on the same quarter last year, Xinhua reported on Friday.

"The mobile broadband business in North America stabilized in the quarter, but remained at a lower level than a year ago," CEO Hans Vestberg said.

Sales in China, the Middle East and India also contributed positively to Ericsson's sales growth.

Ericsson's gross margin dropped to 33.2 percent in the quarter, compared to 36.4 percent for the same period in 2014.