India market's share in Ericsson's global net sales jumps to 11%

Indian market's contribution to Swedish telecom gear maker Ericsson's global net sales rose by 9 percentage points to 11 per cent in the January-March quarter of 2023 compared to the year-ago period.

Ericsson India contributed 2 per cent to the global net sales in January-March 2022.

The Swedish firm on Tuesday posted a 14 per cent year-on-year growth in net sales to 62.6 billion Swedish Krona (SEK) in March 2023 quarter from 55.1 billion SEK.

With 11 per cent contribution, Ericsson India revenue during the reported stands at around Rs 5,600 crore.

"In market area South East Asia, Oceania and India, sales adjusted for comparable units and currency increased by 132 per cent YoY primarily driven by 5G market share gains in India as well as timing of project milestones in the Philippines and Malaysia," Ericsson said.

Net sales of Ericsson plunged by 20 per cent in North East Asia and 18 per cent in North America.

Ericsson Networks sales, which account for 68 per cent of total sales,