Ericsson’s sales in Southeast Asia, Oceania, India falls 44% YoY on Jio, Airtel 5G capex slowdown

NEW DELHI: Stockholm-headquartered telecom gear maker Ericsson on Friday reported a 44% year-over-year decline in sales in Q2 2024 in the market area Southeast Asia, Oceania, and India, primarily due to lower capital expenditure (capex) by Reliance Jio and Bharti Airtel.

Ericsson’s sales in Southeast Asia, Oceania, and India slid to 7.7 billion crowns in Q2 2024, compared to 13.8 billion crowns in the same quarter a year ago. Sequentially, the vendor’s net sales in this region were down by 10%.