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Ericsson Sales Miss Estimates on China 4G Spending Slowdown

Ericsson AB reported third-quarter profitability and sales that missed analysts’ estimates as business in Japan, Russia and Brazil slumped and spending in China on fourth-generation networks that power smartphones and tablets slowed.

The gross margin, or the percentage of sales left after subtracting production costs, was 34.5 percent excluding some items, the network-equipment maker said in a statement on Friday. Analysts predicted 35.3 percent, the average of estimates compiled by Bloomberg. Sales rose about 3 percent to 59.2 billion kronor ($7 billion), missing the average estimate of 60.7 billion...