Ericsson’s SE Asia, Oceania, India sales fall 44% YoY

New Delhi: Swedish telecoms gear maker Ericsson has reported a 44% on-year fall in sales in the second quarter of calendar 2024 in market area Southeast Asia, Oceania and India, primarily due to a moderation in network capex spends by India’s top two telcos, Bharti Airtel and Reliance Jio, post-completion of their pan-India 5G rollouts.

Ericsson’s sales in the Southeast Asia, Oceania and India market area plunged to 7.7 billion crowns (₹6,116 crore approx) in Q2 2024, from 13.8 billion crowns (₹10,961 crore) in the year-ago period. Sequentially, the vendor’s net sales in this region was down 10%.

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