Telecom network equipment vendor, Ericsson has posted its financial results for the first quarter of 2015.

The company has reported that its global revenue increased year-on-year by 13 per cent to SEK 53.5 billion, while net income declined by 14 per cent to SEK 1.5 billion in the first quarter under review.  Meanwhile, Ericsson India’s revenue witnessed an year-on-year increase of108 per cent to SEK 3.5 billion during the same quarter.

Further, globally, Ericsson generated SEK 26.4 billion revenue from networks business, SEK 23.9 billion from global services business and SEK 3 billion from support solutions business in the first quarter of 2015. For the period under review, the company’s businesses including networks, global services, and support solutions witnessed a growth of 8 per cent, 17 per cent and 11 per cent, respectively.

Going forward, Ericsson will continue to make investments in areas such as IP networks, cloud, operations support system and business support systems, TV and Media.