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The news comes just weeks after the company inked deal with Indian telco Vodafone Idea
Sweden’s Ericsson has won a new multi-billion dollar 5G equipment contract with Bharti Airtel according to an exclusive Reuters article published this week, citing people familiar with the matter.
Financial details of the deal have not been disclosed, but according to Reuters, the newly secured contracts are expected to boost Ericsson’s revenue for 2025, after a fall in contracts from India in the first half of this year.
Just weeks ago, Ericsson won part of a $3.6 billion deal, and expanded its preexisting partnership with Vodafone Idea to upgrade its 4G network and introduce 5G services in in key regions, including Delhi, Kerala, Chhattisgarh, and Rajasthan.
This week, the company also released its third quarter results for 2024, which showed mixed performance with regional differences. While overall sales fell 1% year-on-year to SEK 61.8 billion (USD 5.4 billion), North America saw a strong 55% growth in sales, balancing out declines in other regions. The company’s gross margin improved to 46.3%, driven by cost savings, better market positioning, and higher revenue from intellectual property rights (IPR).
Adjusted EBITA increased 64% year-on-year to SEK 7.8 billion (USD 677 million), with a margin of 12.6%, helped by higher gross income and cost controls. Net income rose sharply to SEK 3.9 billion (USD 339 million), recovering from a SEK 30.5 billion (USD 2.65 billion) loss in Q3 2023.
“Q3 marks a period of laser-focus on execution of our strategic plan. We see increasing customer momentum around programmable networks that deliver differentiated performance, and expect further traction, supported by the JV we have announced with 12 of the world’s largest telecom operators. The JV will aggregate network APIs, accelerating commercialization and generating new opportunities for network monetization.,” said Börje Ekholm, President and CEO.
“We see signs that the overall market is stabilizing with North America, as an early adopter market, returning to growth. While the market development is ultimately in the hands of our customers, we are working to deliver operational excellence regardless of market conditions,” he continued.
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