Telecom gear maker Nokia on Thursday posted a six per cent decline in sales in India at 251 million euros in the third quarter of 2021. The company had recorded sales of 268 million euros in the same period a year ago.
Nokia has also cut down on its expectations in 4G and 5G business from India, Asia Pacific, Middle East and Africa.
It has also expressed uncertainty around the recovery timeline of markets that were impacted by COVID, including India.
Nokia mentioned about the scope and duration of the COVID impact, particularly in certain countries, including India, where the pandemic has worsened, and the pace and shape of the economic recovery following the pandemic.
At a global level, Nokia’s operating profit on a reported basis grew 43 per cent to 502 million euros in the third quarter of 2021 from 350 million euros in the year-ago period.
“From a regional perspective, North America, Asia Pacific and Latin America witnessed strong growth, which was partly offset by declines in Europe, Middle East and Africa, Greater China and India,” Nokia said in its earnings release.
The company’s global net sales grew 2 per cent to 5.39 billion euros in the September quarter from 5.29 billion euros in the corresponding quarter of 2020.