Company cites lower mobile-phone sales

Swedish telecoms equipment maker Ericsson issued a profit warning on Monday saying it expected a pre-tax loss of $407-$509 million in the first quarter instead of a result close to break-even. The company said sales would be flat or slightly lower instead of rising 15 percent as previously expected and that sales of mobile phones would be “considerably lower than in the first quarter of last year.” The profit warning from the world’s third biggest mobile phone maker and leading network infrastructure supplier was a further sign of trouble in the recently battered technology and telecoms sector.