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The company, one of the world’s biggest suppliers of 5G wireless technology, said in a statement ahead of investor presentations in New York that it also aimed to generate free cash flow before M&A of 9-12% of sales in the same time frame.
Ericsson reported an EBITA margin of 11.2% for the third quarter as higher investment in technology, selling expenses and one-off costs weighed on profitability.
Last week, the Stockholm-based company announced it had struck a global deal with Apple (NASDAQ:AAPL) to end a long-running legal battle over royalty payments over the use of 5G patents in iPhones that has dented profits and shares this year.
