Question-and-Answer Session
Henry Sténson
Very good. Thank you very much. So you're welcome. We start in the front, David please. Yes, David, start. You're at the right spot, just given him the microphone please. Yes.
David Halldén – HQ Bank
Thank you very much. David Halldén, HQ Bank. One question. I'm glad to see the organic growth in services and the currency impact. In the networks division, you mentioned that obviously there was a currency boost, but of the 12%, how much was currency and how much was organic in that specific division? Is that something you wish to break out?
Hans Vestberg
No. We don't disclose it. We decided that – we do two disclosures on currency effects, one is of the group level and then on professional services as well as we had for a long time. But of course you can draw the conclusion that they're fairly similar between networks and the totality. That is fairly similar. I would say that taking away all the – we still have a small organic growth in the networks business.
David Halldén – HQ Bank
Okay. Thank you.
Henry Sténson
Then we continue over to Jan.
Jan Ihrfelt – Swedbank
Yes. Jan Ihrfelt, Swedbank. Question on services, you grew by 10% on a constant currency base, do you think you could keep that rate going forward, or is the Q4 comparison being too difficult for you?
Carl-Henric Svanberg
I think in general we have seen a growth of this level or more over the last year and services is not an area where we see a decrease in demand. So I don't think we have reasons to expect a deviation from historical patterns here. But again, I mean this is an area that both offers opportunity but also optimizing our cost from the operating side.
Hans Vestberg
And you can of course mention that when you look at historical percentages of growth, that would be harder over time. It was easy when I was running services, it was smaller. So of course in percentage wise, it was much easier. So the percentage is a little bit more difficult, but still of course it is going to be in absolute number continue to grow. That is I believe with the demand in the market, but percentage wise, it is harder and harder over time, I would say.
Jan Ihrfelt – Swedbank
Okay, and just a question on the sequential decrease in networks which was like 27% or something, the historical pattern is like 20%, so a little bit worse than that, and you were helped by the currencies here, so how do you explain this worse than historical average sales, sequential sales decrease in networks?
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