With the North American operators spending three times more the largest wireless maker of the globe Ericsson AB made profits in its third quarter that surpassed all the estimates of analysts.

World's leading wireless network maker, Ericsson AB has reported a 26% dip in its profits in first-quarter due to reduced investments in the emerging markets, yet its margins depicted a significant rise.

Swedish telecoms equipment group Ericsson is reported to have announced deals with China Mobile and China Unicom worth a combined $1.8bn (£1.2bn).

Ericsson Australia and New Zealand Chief Executive, Jacqueline Hey has departed from the networking retailer after performing her duties only 18 months in the position.

In October 2008, Ms. Hey was given the top position at Ericsson Australia, but she renounced after working 23 years at the company.

Australian telecommunications and media company Telstra is all set to carry out trials of Long Term Evolution (LTE) technology, and has picked up Huawei, Ericsson and Nokia Siemens Networks.

Official reports have confirmed that the giant US telecommunications services provider AT&T has selected Ericsson and Alcatel-Lucent to join hands and effectively build its new LTE high-speed wireless technology network, marking a major order for both the operators.

Ericsson, one of the largest telecom-gear makers, reported fourth-quarter core operating profit supporting market expectations on Monday. It said it has upheld market share in unfavourable situations.

Excluding loss-making joint ventures and restructuring costs, Ericsson's quarterly operating profit, was 7.5 billion Swedish crowns almost alike the forecasts.

In its recently-reported fourth quarter results, telecoms equipment maker Ericsson said that its net income, excluding loss-making joint ventures and restructuring costs, dropped a substantial 82 percent to 0.7 billion Swedish kronor, or 0.1 kronor per share, from the same quarter year before figure of 4.1 billion kronor, or 1.21 kronor per share.

Stockholm-based Ericsson, one of the world's largest communications companies, has announced a massive plan of investing 1.5 billion dollars in South Korea in the forthcoming 5-year span of time.

Ericsson's CEO Carl- Henric Svanberg divulged the plan at a meeting with South Korean President Lee Myung Bak in Stockholm.

Stockholm-based world's largest wireless networks maker, Ericsson AB has promoted Chief Financial Officer Hans Vestberg to replace Chief Executive Officer Carl-Henric Svanberg.