STOCKHOLM - Ericsson posted a first-quarter profit on Wednesday that swept past forecasts due to strong growth in North America and cost cuts, spurring the telecom equipment maker to boost its full-year outlook for the global networks market.
Ericsson Chief Financial Officer Carl Mellander said the Huawei situation had not yet affected orders but acknowledged security concerns could play a role in customer decisions. Ericsson said it now expects the Radio Access Network equipment market to grow by 3 percent this year, up from a previous forecast for 2 percent growth.
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