Ericsson reported $886.7 million in net profits, marking a 42 percent decline during the fourth quarter of last year. While analysts expected the decline in net profits, the company surprised the industry with a less than optimistic outlook: Ericsson said the mobile infrastructure market in 2008 will be "flattish." The Swedish company also announced that some 1,000 staff would be cut in Sweden in an attempt to cut costs and regain profitability.
For more on Ericsson's Q4:
- read this article from the WSJ (sub. req.)