Sales at top global network vendors Ericsson and Nokia have slowed down in India due to big telcos Reliance Jio and Bharti Airtel’s focus on 5G monetisation and cutting capex spends. Nokia’s India net sales fell by 33% in the fourth quarter of 2023.
Microsoft Chairman and CEO Satya Nadella has admitted that the company’s decision to exit the smartphone business was a mistake. In an interview, Nadella stated that they could have made it work by reinventing the category of computing between PCs, tablets, and phones. Microsoft officially confirmed in 2017 that Windows Phone was dead.
Finnish telecom gear group Nokia is set to cut up to 14,000 jobs in a cost reduction effort following a 20% decline in third-quarter sales. The decreased sales are attributed to reduced demand for 5G equipment in countries like the US. Nokia and rival Ericsson have been striving to offset this decline with higher sales to India, a low-margin market. Nokia’s cost-cutting program aims to save 800 million to 1.2 billion euros by 2026.
