Ericsson delivered pretty good results for the 1Q07 quarter. Revenues were up 8% to €4.8bn, operating expenses grew only 3%, and net income jumped 27% to €663m. Revenue split is as follows: Networks: €3.3bn (17% of operating margin); Professional services : €1.1bn (15% operating margin); Multimedia: €388m (8% operating margin). Gross margin was 43%. Ericsson believes the GSM and WCDMA market will deliver mid-single-digit growth. Ericsson has reiterated its growth forecasts for the year. During the quarter, Ericsson completed the acquisitions of Redback, Entrisphere and Tandberg TV. Ericsson said, it is particularly targeting India, China and the USA, as strong growth areas.