READ MOREIn posting its third consecutive quarter of progress toward reaching its 2020 financial targets, the company saw its net sales jump by 9 percent year-on-year and 8 percent since the last quarter.
"We continue to execute on our focused strategy, tracking well towards our 2020 targets," Borje Ekholm, president and CEO of Ericsson, said in a statement.
The mobile telecom provider posted an operating profit of 3.2 billion crowns ($356.5 million) as compared to a loss of 3.7 billion crowns in the third quarter of 2017.
"There is strong momentum in the global 5G market with lead markets moving forward … More work remains, however, to get all parts of the business to a satisfactory performance level. We remain confident in reaching our long-term target of at least 12 percent operating margin beyond 2020." ■