New Delhi: Finnish telecom gear maker Nokia reported a 69 per cent decline in sales in India to 265 million euros, about Rs 2,360 crore, in the March quarter due to slowing 5G rollout in the country.
The company reported net sales of 853 million euros in the year-ago period.
“Net sales declined strongly in APAC in the quarter, primarily due to Mobil Networks and Network Infrastructure. Within APAC (Asia Pacific), India net sales declined due to significant deployment in the year-ago quarter. The latter reflects the normalization of 5G investment in the region." "Nokia said.
Nokia's mobile network sales declined 37 percent globally due to lower spending levels in India and North America.
Pekka Lundmark, President and CEO of Nokia, said, "The slower pace of spending in India following the rapid 5 deployments seen in the first half (H1) of 2023 was anticipated, and our expectations for India for the full year remain unchanged. Are made."
Nokia's total net sales fell 20 percent to 4.6 billion euros during the reported quarter, from 5.85 billion euros a year earlier.
The company reported net sales of 853 million euros in the year-ago period.
“Net sales declined strongly in APAC in the quarter, primarily due to Mobil Networks and Network Infrastructure. Within APAC (Asia Pacific), India net sales declined due to significant deployment in the year-ago quarter. The latter reflects the normalization of 5G investment in the region." "Nokia said.
Nokia's mobile network sales declined 37 percent globally due to lower spending levels in India and North America.
Pekka Lundmark, President and CEO of Nokia, said, "The slower pace of spending in India following the rapid 5 deployments seen in the first half (H1) of 2023 was anticipated, and our expectations for India for the full year remain unchanged. Are made."
Nokia's total net sales fell 20 percent to 4.6 billion euros during the reported quarter, from 5.85 billion euros a year earlier.
