The 8 per cent fall in North American sales was mainly due to one customer's reduction in investments in mobile broadband
Shares of Ericsson fell 17% to 51.15 kronor at 2:04 pm in Stockholm, after tumbling 18% earlier for the biggest drop since October 16, 2007
The company has come under fire for failing to address falling sales in its key line of business - telecoms equipment for mobile operators
The company has around 116,000 employees worldwide, including 15,000 in Sweden.
The initiative 'Baank-e-Loom' in partnership with Digital Empowerment Foundation envisages digital development of the handloom cluster in Barabanki
Vestberg will support the board and management during his term of notice of six months
The pilot project for the same will start soon and the company expects to bag more such deals.