ERICSSON PROFIT UP 17%, PRICES TO KEEP FALLING.

Swedish telecoms group AB LM Ericsson said on October 22 mobile telephone prices were continuing to fall and were expected to decline by 25 to 30% annually. The company said this as it posted its results for the nine months ending September 30, 1998. Profit after financial items rose 17% to 12.10 billion crowns compared to expectations of 12.38 billion crowns. Turnover was up 11% at 125.40 billion crowns versus expectations of 126.46 billion crowns. It said China was the biggest single market for Ericsson and had became even more dominant. "We are still experiencing strong growth in China," Ericsson said.Foreign exchange earnings boosted income by 400 million crowns. The effects of world financial problems became...