Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Ericsson expects India to become one of its top two markets by sales in the next two to three years, as the telecom equipment maker awaits more contracts for managed services, including operations and business support systems, IP network and cloud to come in over 2015.
The projection is based on increasing demand for mobile data, which is set to move from second generation to third and LTE, a fourth-generation technology, Chris Houghton, head of India region at the Swedish company, told ET.
For the company, India as a market climbed up a rank to No. 3 in the past year, and was tied with Japan by contributing 4 per cent to its global revenue in 2014. The US is its top market, followed by China. Ericsson’s outlook comes at a time when the International Monetary Fund is predicting India’s economic growth to likely outpace that of China by 2016. “I already see the potential in the country and I will place my bets on India,” Houghton added. Original post at ET Telecom