“India saw a decline in the quarter, primarily in Mobile Networks reflecting the fact that the significant 5G deployments which started in the year-ago quarter have normalized. In addition there were declines in Network Infrastructure in both Optical Networks and Fixed Networks,” Nokia, which follows the January-December financial year, said in its earnings statement.
Nokia 5G: Pekka Lundmark, President and CEO, of Nokia, said in the report that the company’s net sales in Mobile Networks declined 19% year-over-year as “we saw some moderation in the pace of 5G deployment in India which meant the growth there was no longer enough to offset the slowdown in North America”.