Nokia India sales fall 69% y-o-y in April-June

Telecom gear maker Nokia on Thursday reported a 69% year-on-year (y-o-y) decline in revenue from its India operations to €329 million (around Rs 3,007 crore) in constant currency terms for the April-June quarter, according to the company’s earnings.

A weakness in sales for Nokia compared to the year-ago period is due to a reduction in capex by Jio and Airtel, following the completion of their nationwide 5G rollout.On a quarter-on-quarter (q-o-q) basis, sales rose 24% from €265 million (around Rs 2,400 crore) in the preceding quarter, attributed to certain order wins in network infrastructure.