Ericsson, which employs around 2,500 people in Ireland, has posted a big loss for the third quarter and said that it does not expect a recovery in the near future.
The company reported a pretax loss of 5.8bn kronors (IR£484.7 million) compared with a profit of 4.1bn kronors (IR£339.5 million) a year ago.
The company said that total mobile systems sales fell 8 per cent in the quarter, though are up on the year to date.
Mobile phone sales fell from 7.7 million to 7.2 million units during the quarter.
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Though the company posted losses the share price rose on publication of the results, on stronger than expected cash flow.