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Ericsson profit beats forecasts for fifth straight quarter as savings, 5G sales kick in

Mobile telecom equipment maker Ericsson reported a bigger that expected rise in first-quarter operating earnings on Wednesday, adding that it saw particularly strong growth in North America. Speaking to CNBC's "Squawk Box Europe" on Wednesday, CEO Borje Ekholm said strong momentum in the U.S. would help position Ericsson as a top provider in 5G technology. "The reality is the U.S. market is a leader in 5G, they were the first to launch (it) and for us, our strategy is to work with lead customers in lead markets," he said.