After strong growth in recent quarters, sales at global network vendors Ericsson and Nokia have hit a roadblock in India. Reliance Jio and Bharti Airtel, two major telecom companies in India, have been focusing on monetizing their 5G efforts and cutting capital expenditure. These companies have virtually completed their nationwide 5G rollouts and are now shifting their attention towards generating revenue from their investments. As a result, Ericsson and Nokia have experienced a slowdown in sales. Finland’s Nokia, in particular, saw a significant decrease of 33% in its net sales in India during the fourth quarter of 2023. This decline reflects the current market conditions in India’s telecommunications industry.