STOCKHOLM, Oct 17 Reuters Ericsson on Tuesday said it expected the uncertainty impacting its mobile networks business to persist into 2024, after reporting a fall in thirdquarter revenue as demand for 5G equipment fell in North America.

The company, which preannounced its results last week and took a 2.9 billion impairment charge over its Vonage acquisition, said it expects current quarter results to be similar to the third quarter.

Networks organic sales in North America were down by 60 from last year as telecom customers adjusted their inventory and were slower to roll out new equipment. North America now accounts for 23 of Ericsson39;s sales compared with 48 earlier.

While nearterm dynamics are uncertain, we are convinced that the recovery will come, CEO Borje Ekholm said in a statement.

Our goal is to make Ericsson a more profitable company, returning to our cash flow target level and capturing the next major wave of networks innovation with a substantial platform business, he added.

Reporting by Supantha Mukherjee in Stockholm, editing by Terje Solsvik

Source Reuters