Swedish telecom equipment maker Ericsson has reported a 56 per cent growth in revenues from India, making it the highest growing region for the company worldwide. Sales in India grew to 2 billion (SEK) Swedish Kronor or Rs 1,685 crore in the third quarter of 2014 from 1.28 billion SEK in the corresponding quarter last year. India, which accounts for 4 per cent of the company’s global revenue, now ranks number four behind the US, China, and Japan.
“Since the end of last year, sales in the region has recovered, mainly driven by an increase in operator capital expenditure spending in response to greater data uptake. The year-on-year growth in support solutions is driven by OSS and BSS and TV & media,” the company said.
(OSS and BSS are software solutions that enable telecom service providers to manage their networks, their business and their customer relations.)
Ericsson’s Chief Executive Hans Vestberg said the investment climate in India continues to improve.
The performance in India, China, West Asia and Russia helped Ericsson to grow its global revenue to 57.6 billion Swedish kronor ($7.94 billion) in the quarter, up 9 per cent from 53 billion kronor a year ago.