Nokia India sales drop 44% in Q3
Nokia’s India sales fell for the fourth straight quarter, in line with what rival Ericsson reported a few days ago for the three months through September 30.
This, as their big telecom clients, Reliance Jio and Bharti Airtel, continued to cut down on network capital expenditure.
Industry executives and analysts expect Finland’s Nokia and Sweden’s Ericsson to rely more in the near term on their latest contracts to supply 4G and 5G equipment to Vodafone Idea (Vi) to boost India sales and support global growth.
Nokia on Thursday posted a 44% year-on-year fall in India net sales to `2,885 crore for third quarter.
Ericsson too recently reported a 44% slide in sales in its Southeast Asia, Oceania and India market to 6,155 crore for the quarter.
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