Vodafone and Ericsson figures fall

Vodafone and Ericsson are expected to announce gloomy figures this week as the telecoms sector continues to struggle.

Hit by Nokia's sales warnings at the end of last week, Vodafone's shares dropped more than two per cent on Friday afternoon.

The company is to give its key performance indicators on Thursday, which analysts expect to show some increase in its customer base. But growth is expected to have been much slower than in previous quarters.

Some analysts have blamed a lack of additional services available through the handset for Vodafone's failure to convince customers to part with more money.

Telecoms equipment manufacturer Ericsson is suffering an equally turbulent time. According to the Swedish tabloid, Afonbladet, the company may lay off up to 17,000 workers when it discusses results today.

The company's orders fell 16 per cent overall last year, including a 39 per cent drop in the last quarter.