Swedish telecommunications vendor Ericsson has raised its first quarter gross margin estimate due to better-than-expected savings from cost cuts.
Ericsson said gross margins are expected to improve above the level of 41.6 percent attained in the fourth quarter of 2003.
Topping the previous quarter would take the number to levels not seen since the boom years of the late 1990s.
Ericsson is world's largest manufacturer of equipment for mobile phone networks.
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