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Nokia India sales up 129% to €568m in 4Q22

26. 01. 2023 Thursday / By: Robert Denes / Business / Exact time: BST / Print this page

The strong increase in net sales in India was attributable to mobile networks as 5G deployments started to increase in the fourth quarter. The network infrastructure also achieved strong growth, thanks to both optical networks and fixed networks, according to Nokia's quarterly earnings report published on Thursday.

NEW DELHI: Finnish telecom equipment maker Nokia reported revenue of €568 million in India in the fourth quarter of 2022, up a strong 129% (116% at constant exchange rates) from €248 million in the same quarter of 2021, as telecom operators began to run their 5G. deployments.

“The strong growth in net sales in India was attributable to mobile networks as 5G deployments started to increase in the fourth quarter. The network infrastructure also achieved strong growth, thanks to both optical networks and fixed networks," says Nokia in its quarterly earnings report published on Thursday.

For the full year 2022, Nokia's India sales are up 25% (15% at constant exchange rates) from €1,035 million in 2021 to €1,290 million.

In India, Nokia has picked up contacts for 5G devices from major telecom operators Reliance Jio and Bharti Airtel. The service providers started the introduction of their 5G services from October 1.

ndia was Nokia's fastest-growing market as sales in North America fell 3% from 4Q21 to 4Q22, while sales in the Greater China region fell 9% over the same period. However, the company achieved sales growth in Asia, Europe, Latin America, the Middle East and Africa.

In the October-December quarter, India was the second largest country in terms of sales for Nokia's Swedish rival, Ericsson. India's share of the company's sales in the quarter ending December 2022 was 6%, second only to the United States (41%). India beat China and Japan to the second spot.


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