NEW DELHI: Finnish telecom gear maker Nokia on Thursday reported a 10% rise in global net sales to 5,859 million euros in the first quarter ending March 2023, on account of nearly four-fold growth in Indian business.
It registered 5,348 million euros in net sales in the same period a year ago. “Network Infrastructure and Mobile Networks grew at double-digit rates, with Network Infrastructure increasing 13%, led by Optical Networks and IP Networks, and Mobile Networks increasing 13%, reflecting continued ramp up of 5G in India,” Nokia said in its earnings report.
Boost in Indian sales saved it from the reduced spending in North America and other geographies. Nokia India sales rose by over four-fold to 853 million euros during the quarter from 200 million euros in March 2022 quarter on fast pace deployment of 5G network in the country.