India joins the list of top 3 countries that are rapidly introducing 5G, know why it got this place
Due to the 5G rollout, India has become one of the top three countries in the world with the largest 5G installed base. The CEO of Nokia gave this information during the inauguration of its 6G Research Lab. Let us tell you that Jio and Airtel are ready to spend crores of rupees to improve their 5G network. Let us know about it.
Recently, Nokia CEO has included India in the list of top 3 countries that have rapidly installed 5G networks across the country. Nokia CEO Pekka Lundmark said this while praising India during the inauguration of its 6G Research Lab in Bengaluru last Thursday.
Lundmark said the 5G roll-out in India has been remarkable. Not only this, it has been one of the fastest telecom network roll-outs ever. This means that India is now among the top three countries in the world with the largest 5G install base, which also gives you better 5G download speeds.
Offsetting decline in shipments:
- Not only this, the 5G rollout also helped a lot in offsetting the decline in telecom gear shipments across geographies. This includes companies like Ericsson and Nokia, whose business decline has been compensated.
- Nokia reported a 333 percent rise in India sales and profit of about Rs 9,500 crore in the June quarter report of 2023.
- If we talk about Ericsson, it recorded a 74 percent growth in its net sales in some regions – South East Asia, Oceania, and India in the June 2023 quarter, which stood at around Rs 10,700 crore. This accounts for about 90 percent of its business.
Jio and Airtel will spend crores of rupees:
- A report by JM Financial has revealed that Reliance Jio and Bharti Airtel can invest about Rs 75,000 crore in this financial year to strengthen and improve their networks.
- Whereas in the financial year 2024, Jio can invest about Rs 42,000 crore and Bharti Airtel can invest about Rs 33,000 crore.
- These expenses will be incurred only until the 5G network roll-out target is met.