India among top-five countries in first-quarter net sales for Ericsson

Ericssonreported that across the Southeast Asia, Oceania and India markets, sales rose year-on-year in networks, driven by continued investments in LTE, primarily in India

India figured among top-5 countries in Q1 net sales for Ericsson, which reported that across the Southeast Asia, Oceania and India markets, sales rose year-on-year in networks, driven by continued investments in LTE, primarily in India, and by 5G momentum, predominantly in Australia.

The Swedish telecom giant said that for the 'Southeast Asia, Oceania and India' markets segment, currency-adjusted sales increased 21 per cent year-on-year in the first quarter of 2021.

"Sales increased year-on-year in networks, driven by continued investments in LTE (Long term Evolution), primarily in India, and by 5G momentum, predominantly in Australia," Ericsson said in its Q1 2021 earnings report.

On the performance of the Southeast Asia, Oceania and India markets, it said sales increased y-oy in digital services due to timing of orders and project milestones.

"Managed services sales increased YoY, mainly as a result of a new contract signed in the second half of 2020. Reported sales increased by 13 per cent," it said.

India is among the top-5 countries with respect to net sales (three per cent contribution to overall sales); it is on the fourth position with the UK. Other countries in top-5 are the US, Japan and Australia.

Overall, on a year-on-year basis, Ericsson saw its earnings before interest and taxes (excluding restructuring charges) rise to 5.3 billion Swedish Krona (about USD 640 million) in Q1 2021. Total net sales was at 49.8 billion Swedish Krona (about USD 5.9 billion) in Q1.