Nov 8 (Reuters) - Mobile telecom equipment maker Ericsson said on Thursday it increased its net sales target for 2020, driven mainly by its networks business.
The company now aims to reach 210 billion Swedish crowns ($23.29 billion) to 220 billion Swedish crowns in net sales, compared with its earlier guidance of 190 billion crowns-200 billion crowns.
The company also raised its operating margin target for segment managed services to 5 percent to 8 percent and sales ambitions for segment networks to 141 billion crowns to 145 billion crowns.
In the networks business, the company said increased investments in research and development for technology and cost leadership will continue.
$1 = 9.0183 Swedish crowns Reporting by Philip George in Bengaluru; Editing by Subhranshu Sahu