Profits were down again at Ericsson as the vendor revealed Q1 figures that were skewed by significant currency movements.

Net income fell 14 percent to SEK1.5 billion (€160 million) year-on-year in the first quarter after declining nine percent in full year 2014.

Revenues increased 13 percent to SEK 53.5 billion (€5.3 billion) but, adjusted for currency, were down six percent.

Ericsson said there was slower mobile broadband activity in North America where sales were flat.

Revenues declined three percent in LatAm but every other region saw an increase.

India was the stand out region as revenues grew by 108 percent as operators continued to spend to keep up with growth in mobile data traffic.

Overall sales in the company’s networks division were up eight percent but fell nine percent when adjusted for currency.

Similarly, sales in Global Services were up 17 percent but down two percent when currency fluctuations are considered.

Managed services continued to perform strongly. The vendor signed 27 such contracts in the quarter. For example, it was picked as a managed services partner for Orange in five European countries.

Sales in its Support Solution business unit were up 11 percent but down by the same percentage when adjusted for currency.

CFO Jan Frykhammar pointed to the weakening of the Swedish Krone for the “big impact” on the figures and said there nothing he could do other than hedge against such risks.

The vendor said its plan to save SEK9 billion by 2017 was progressing “according to plan”.

Related savings will start to impact results towards the end of 2015, according to Frykhammar.

The CFO told European Communications that the news of rivals Nokia and Alcatel-Lucent merging was just “a continuation of the consolidation trend” that is affecting the industry as a whole.

He added that they were not planning to change tack as a result of the deal: “We continue to focus on what we can control.”​

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