Ericsson India sales: According to a financial report issued by Ericsson on Tuesday, its net sales in India for the third quarter ended September 30 increased by almost 3.5 times to around Rs 7,400 crore (9.6 billion Swedish Krona).
India contributed 2.721.6 million SEK (about Rs 2,100 crore) or 4% of Ericsson’s total net sales for the three months ending in September 2022.
In the September 2023 quarter, Ericsson’s net sales globally decreased by 5% to 64.5 billion SEK as a result of a steep loss in North American business, which was somewhat offset by sales in South East Asia, Oceania, and India.
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Due to clients’ inventory changes and a slower deployment speed, networks organic sales in North America decreased by 60% YoY (year over year) from a record quarter in September 2022. According to Brje Ekholm, president and chief executive officer of Ericsson, “the decline in North America was partially offset by growth in India and the restart of investments in some early 5G markets. Net sales in South East Asia, Oceania, and India increased from 7,914 million SEK in September of last year to 13,764 million SEK in September of this year, a 74% increase on an annual basis.
India remained Ericsson’s second-largest market. In the September 2023 quarter, domestic net sales made up 15% of global net sales, amounting to 9,671 million SEK in revenue, or around Rs 7,400 crore at the current currency rate.
