Ericsson ends three years of losses

SWEDISH telecoms equipment giant Ericsson has returned to the black in the third quarter after three years of losses as restructuring begins to pay off. Earnings before write-offs came in at one billion kronor (£76.2m), beating analysts' estimates. The group expects the mobile systems market to decline by about 10% this year but expects strong demand for data services. Its staff was cut by 4,200 in the quarter.