India among top-5 countries in Q1 net sales for Ericsson

Ericsson announced that network revenues increased YoY in Southeast Asia, Oceania, and India, owing to continued investments in LTE, primarily in India, and 5G traction, mainly in Australia.

Currency-adjusted revenues for the "Southeast Asia, Oceania, and India" markets segment expanded 21% year on year in the first quarter of 2021, according to the Swedish telecom giant.

Ericsson said in its Q1 2021 earnings report that sales in networks increased YoY, owing to continued investments in LTE (Long Term Evolution), primarily in India, and 5G traction, mainly in Australia.

It said that due to the timing of orders and project milestones, sales in digital services increased y-o-y in Southeast Asia, Oceania, and India.

Sales of managed services expanded year over year, owing to a new contract signed in the second half of 2020. According to the company, reported sales increased by 13%.

India is in the top five countries in terms of net sales (3% of total sales); it is ranked fourth place with the UK. The US, Japan, and Australia round out the top five nations.

In the first quarter of 2021, Ericsson's earnings before interest and taxes (excluding restructuring charges) increased by ~ US$ 640 million YoY.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.