in

Exclusive: Nokia generated a net profit of EUR 853 million in the first quarter of 2023 thanks to the quick adoption of 5G in India.

Nokia helps Jio and Airtel with 5G rollout, generating 853 million euros.

The business of Nokia slowed down a little in North America and other regions. India was responsible for making up for Nokia’s weak performance in other international markets.

HIGHLIGHTS

  • The fast 5G deployment in India has benefited Nokia, a Finnish maker of telecom equipment.
  • Two of the country’s largest telecom providers, Jio and Airtel, are receiving assistance from the vendor as they build out 5G.
  • In Q1 2023, Nokia reported net sales of 853 million euros.

The fast 5G rollout in India has benefited Nokia, a Finnish maker of telecom equipment. Two of the country’s largest telecom providers, Jio and Airtel, are receiving assistance from the vendor as they roll out 5G. Nokia reported net sales of 853 million euros in the first quarter of 2023 as a result. This is 327% more than the 200 million euros in Q1 2022 on a year-over-year basis. The quickest 5G rollout in the world is being carried out by Indian carriers at a breakneck pace. Nokia is gaining a lot as one of the primary technology partners for the telcos as a result of the Chinese companies being forced to leave by the government.

The Finnish telecom gear maker reported global net sales of 5859 million euros in Q1 2023, a 10% increase in global net sales from the 5384 million euros in the same period a year ago.

Nokia reported a 13% growth in network infrastructure and 13% growth in mobile networks in India, largely due to the continued expansion of 5G.

The business of Nokia slowed down a little in North America and other regions. India was responsible for making up for Nokia’s weak performance in other international markets.

“Mobile Networks net sales increased 13%, more than offsetting a decline in investment in North America as 5G deployments in India picked up. According to Pekka Lundmark, President & CEO of Nokia, “We are witnessing more seasonality between the first and second halves of the year in terms of profitability for Mobile Networks.

Nokia is observing reduced consumer expenditure as a result of the recessionary state of the North American market as well as marketplaces in various regions of Asia and Greater China.

What do you think?

Written by Shallu Srivastav

As Per Latest Information Disney+, Hot star, or an Amazon Prime membership are available with 5 of Airtel’s prepaid plans.

400G IP Transit Ports Are Launched By Lumen In The US And EMEA