Ericsson has returned to growth in its North American market. The vendor, which signed a lucrative five-year contract worth $14 billion to build AT&T's Open RAN network in the US last year, said sales were up 55 percent year-on-year during the third quarter.

The Swedish telecommunications-equipment company said its key networks unit saw an 80% surge in North America sales in the third quarter after winning contracts and as some large customers made selective network investments.

Sweden's Ericsson on Tuesday said the telecom equipment market is showing signs of improvement after reporting core earnings and sales above expectations, helped by a rebound in demand for 5G gear in North America.