New Delhi: Swedish telecom equipment maker Ericsson continues to report its India business declines, a sixth quarter in which sales fell.
In the January-March quarter, the company reported nearly 28% year-on-year (YOY) from India to 3.85 billion Swedish royal family (approximately ₹According to the company’s earnings statement, it is 33.6 million).
Gear Maker has been witnessing sales drops as telecom operators Jio and Airtel complete the launch of their 5G network. “Online sales mainly reflect India’s more normalized level of operator investment,” Ericsson said in its earnings statement.
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However, on a sequential basis, Ericsson reported net sales increased by 32% as Vodafone Creative won 4G network expansion and 5G launch. In the last quarter, Bharti Airtel also awarded Ericsson extension contracts for 4G and 5G Radio Access Networks (RANs) in India.
The company follows a fiscal year from January to December.
“While the macro context is challenging and rapidly changing, our results highlight our competitiveness… Looking ahead, we remain confident in our strong position in the mobile network and expect businesses to be stable over 2025,” Börje Ekholm said.
“In the evolving global trade landscape and macro volatility, we continue to focus on controlling what we can control and deliver to our customers,” Ekholm added.
Although India remains Ericsson’s second largest market, its share of the company’s global sales fell from 10% in the same period last year to 7% on January 3.
Until the July-September quarter 2023, Ericsson experienced record sales in India as investments increased in telecom operators in launching 5G networks.
Globally, Ericsson’s total sales in the January-March quarter rose 3% to 55 billion Swedish crowns (approximately ₹480 million). Sales fell 25% in turn. Ericsson’s net profit grew 63% worldwide, reaching 4.2 billion Swedish crowns in the January-March quarter (approximately ₹36.69 million).
