Falling sales: India deals a blow to Ericsson, Nokia in latest results

Telecom gear makers Ericsson and Nokia have witnessed a sharp decline in the sales from their India business for the fourth-straight quarter. The reason for the same can be attributed to a significant fall in capital expenditure levels of the telecom operator especially on the 5G networks.

In the July-September quarter, Ericsson’s India sales fell 68% year-on-year (YoY) to 3.09 billion Swedish crowns (around Rs 2,466 crore). On the other hand, Nokia India sales fell 43% YoY to 316 million euros (around Rs 2,874 crore) in constant currency terms.