Earlier this week, Nokia revealed its financial report regarding its operations in India. The company marked a sizeable growth in net sales, which is accredited to the growing adoption rate of 5G technology in the region.

Nokia records an impressive 327% Net Sales growth

For those unaware, the Finnish tech giant is a major player in the telecommunications industry and makes equipment for advanced 5G networking as well. Thus, thanks to the expansion of 5G deployment in the Southeast Asian country, it reported a massive 327 percent year on year net sales rise in the first quarter of this year. This brought its net sales to hit 853 million euros or roughly around 937 million US Dollars.

This is considering over the mere 200 million Euros net sales during the same period last year. So its clear that the wider adoption rate by the two major telecos in India, Airtel and Reliance Jio, has helped its overall profits as well. Nokia further added that the sizeable growth in India also helped it offset the slowing demand in the North American market. Notably enough, Nokia isn’t he only one to see sales hike as Ericsson chief financial officer Carl Mellander said that “India is strong and a good example where our sales are up five times.”

Meanwhile, Pekka Lundmark, Nokia President and CEO, stated that “Mobile Networks net sales grew 13% as 5G deployments in India ramped up, more than offsetting a slowdown in North America spending As we expected, we are seeing greater seasonality between the first and second half of the year in terms of profitability for Mobile Networks”. The executive is expecting the company to stay on track to see another year of growth in 2023.

RELATED:

• Nokia’s Patent Crusade: After Oppo and OnePlus, Vivo Faces Sales Ban in Germany
• Nokia C12 Plus launched in India; Offers 6.3 inch display, 4,000mAh battery
• Nokia C12 Plus India Launch soon, listed on official website with Specs & Pricing
• Here’s Probably Why You Should Avoid Buying Samsung ACs in India
• Redmi Note 12s vs Redmi Note 12 Pro 4G: Specs Comparison

(Via)

The post Nokia net sales in India hit nearly $1 billion in Q1 2023 thanks to 5G growth appeared first on Gizmochina.

Nokia has announced that it has won a multi-year deal with Reliance Jio for the deployment of 5G equipment in India. The deal will see Nokia supplying 5G Radio Access Network (RAN) equipment from its AirScale portfolio including base stations, MIMO antennas, and Remote Radio Heads.

The comprehensive supply deal is the second nicked by the company in India after Airtel. The announcement of 5G in India earlier this month has seen a raft of activities as cellular network providers seek to meet the high expectation of the market and deliver quality service. Reliance Jio began its 5G beta trials in four Indian cities earlier this month. The services were based on the standalone architecture started in Mumbai, Kolkatta, Delhi, and Varanasi.

Reliance Jio had stated back in August during its AGM that it has well-established relationships with leading network equipment providers. The company plans to fully cover India with its 5G network by December 2023. Reliance Jio hopes to deploy a 5G standalone network that will deliver advanced 5G services including network slicing and machine-to-machine communications. Reliance Jio says it is pleased to be working with Nokia and it will continue to invest in the latest network technologies. It says it was confident that the Nokia partnership will deliver one of the most enhanced 5G networks in the world.

Nokia also asserts that the deal is a significant win for the brand in the very important Indian market. The move will introduce millions to premium 5G services, enabled by the AirScale portfolio. Nokia says it expects a long and rewarding relationship with Jio.

RELATED:

(via)

The post Nokia announces deal with Jio for 5G equipment deployment appeared first on Gizmochina.