Ericsson India sales fall 53% to Rs 11,732 crore in 2024

Telecom equipment maker Ericsson on Friday reported a 53% year-on-year (y-o-y) decline in revenue from its India operations to 14.87 billion Swedish crowns (approximately Rs 11,732 crore) in 2024, according to the company’s earnings report. The drop is attributed to the reduced capital expenditure by telecom operators.

In the October-December quarter, Ericsson’s sales in India fell over 49% y-o-y to 2.91 billion Swedish crowns (around Rs 2,295 crore), marking the fifth consecutive quarter of declining sales in the country. Sequentially, sales dipped by 5.8%.