Latest News | India Biz Share in Ericsson's Global Net Sales Jumps to 11 Pc

New Delhi, Apr 18 (PTI) Indian market's contribution to Swedish telecom gear maker Ericsson's global net sales rose by 9 percentage points to 11 per cent in the January-March quarter of 2023 compared to the year-ago period.

Ericsson India contributed 2 per cent to the global net sales in January-March 2022.

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The Swedish firm on Tuesday posted a 14 per cent year-on-year growth in net sales to 62.6 billion Swedish Krona (SEK) in March 2023 quarter from 55.1 billion SEK.

With 11 per cent contribution, Ericsson India revenue during the reported stands at around Rs 5,600 crore.

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"In market area South East Asia, Oceania and India, sales adjusted for comparable units and currency increased by 132 per cent YoY primarily driven by 5G market share gains in India as well as timing of project milestones in the Philippines and Malaysia," Ericsson said.

Net sales of Ericsson plunged by 20 per cent in North East Asia and 18 per cent in North America.

Ericsson Networks sales, which account for 68 per cent of total sales, grew in market area South East Asia, Oceania and India while it declined in the other four market areas.

The company said around 50 per cent of the world's mobile 5G traffic, outside Mainland China, is carried over Ericsson's radio networks.

Ericsson mobile network sales adjusted for comparable units and currency decreased by 2 per cent YoY, primarily driven by a 30 per cent sales drop in North America with operators adjusting their inventories as well as reducing their capex spend.

"Strong development in India, offset by lower sales in other markets," Ericsson said.

Mobile network sales of Ericsson in market areas South East Asia, Oceania and India increased by 184 per cent, primarily as a result of market share gains in India as well as timing of project milestones in the Philippines and Malaysia, the company said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)