Nokia expects to recognize the revenue related to this new patent license agreement starting in January 2024. The agreement is consistent with the assumptions Nokia has disclosed in the commentary with respect to Nokia Technologies long-term outlook in its Financial Report for Q1 issued on April 20, 2023.
Nokia's sales crossed Rs 9,500 billion in India in the second quarter02. 08. 2023 Wednesday / By: Robert Denes / Business / Exact time: BST / Print this page
N okia posted a revenue of ₹ 9,500 crore in India during the April-June period, boosted by the rollout of 5G. India market head Sanjay Malik told Danish Khan that 5G-driven growth is happening faster in India than in some developed markets. The company is backing Vodafone Idea's existing 4G operations and is awaiting funding from the telco, which is taking longer than Nokia expected. Edited excerpts:
How important was India's contribution to Nokia's overall Q2 results?
We reported over 1 billion or around ₹ 9,500 crore in a quarter, the highest for a single vendor in a single quarter since 1994 and 1995. Growth is due to 5G deployment and delivery. Our strategy to grow beyond radio is working. Any Indian 5G rollout on the radio side, which happens by the end of the year, will be larger than in many developed countries, as a similar rollout there would have taken two to three years. The percentage of 5G will reach 45% of all installed 4G sites by the end of the year. The year-on-year growth will continue in the following quarters, but not at the same pace./p>
Are you worried about the financial situation of Vodafone Idea?
We continue to cooperate with Vodafone Idea on their current network. We manage this network and continuously improve it in terms of quality. We had discussions with them about the growth of 4G and 5G. They have been in contact with banks and investors for their funding, which is definitely needed. Yes, progress was slower than we thought.
In the past two years, ZTE and Huawei have managed to acquire the non-radio network business from telecom operators. Does this bother Nokia?
We are a reliable partner with all approvals and products. Approval of maintenance and expansion is the prerogative of the government. Therefore, I do not comment on contracts with others.Via Link