Nokia India net sales plunges 68% in 2Q24 as Jio, Airtel dial down 5G capex

NEW DELHI & KOLKATA: Global networks vendor Nokia’s sales in India continued to plunge in the second quarter of calendar 2024, in line with rival Ericsson reporting a similar fall a few days back, with their big telco clients, Reliance Jio and Bharti Airtel cutting down on network capex spends having concluded their pan-India 5G rollouts.

Industry executives and analysts say Finland’s Nokia and Sweden’s Ericsson will now have to rely on fresh 4G and 5G gear supply deals from Vodafone Idea (Vi) to revive their plunging sales in India, and support global growth.