Ericsson Surveys Quake Damage

2:25 PM -- Ericsson AB (Nasdaq: ERIC) CEO Carl-Henric Svanberg said at today’s Capital Markets Day event that he did not have a clear view yet on how the earthquake in China will affect his company, but he was trying to get damage information from some suppliers in the region. (See Quake Hits China's Networks.)

He stressed that in such a natural disaster, his first priority was ensuring the safety of his employees. “The first thing we do is make sure we have all our people, and their families are safe,” he said. “Everything is untouched and everything is safe. Now we’re going through our suppliers in those areas.”

He said he was asked a lot about the situation in China but he didn’t seem completely comfortable talking about business in the midst of so much human tragedy.

“It’s not good to be first in line to be asking about your suppliers when people are still looking for missing and wounded,” he said.

— Michelle Donegan, European Editor, Unstrung

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