Ericsson India has posted 10 percent decrease in sales to SEK 2.4 billion or $271 million during the first quarter of 2017.
Ericsson India, a leading telecom equipment maker in the country, said it generated SEK 1.8 billion revenue from network business and SEK 0.6 billion from IT and Cloud business and nil revenue from media business in Q1 2017.
The company on Tuesday said that sales in India dropped following a fast pace of 4G LTE network deployments in Q4 2016, driven by the spectrum auctions late 2016. Sales were also impacted by consolidations and tariff competition between mobile operators in India.
India continues to be third largest country in terms of revenue for Ericsson.
Ericsson said its India telecom business contributes to 5 percent revenue to total sales of the global telecom equipment and software maker. The United States is still the largest telecom market for Ericsson with 26 percent contribution. China contributes 7 percent revenue to Ericsson’s total sales in Q1.
Ericsson has generated Q1 revenue of SEK 11.8 billion (-10%) from North America, SEK 2.9 billion (-29%) from Latin America, SEK 1.7 billion (-4%) from Northern Europe and Central Asia, SEK 3.6 billion (-17%) from Western and Central Europe, SEK 4.4 billion (+1%) from Mediterranean, SEK 3.5 billion (-3%) from Middle East, SEK 1.9 billion (-9%) from sub-Saharan Africa, SEK 2.4 billion (-10%) from India, SEK 5.6 billion (flat growth) from North East Asia and SEK 5.6 billion (+7%) from South East Asia and Oceania.
