Summary
Nokia, Ericsson, and ZTE each posted solid year-on-year revenue growth in the second quarter of 2022, even as COVID-19 disruptions in China, global chip shortages, and the fallout from the war in Ukraine created distinct headwinds for each vendor.
Regional performance diverges sharply: Ericsson and ZTE deliver growth across most geographies they operate in, while Nokia faces a tougher quarter in Europe and India, with its exit from Russia weighing on both revenue and R&D spending. Enterprise business continues to gain share of total vendor revenue, supported by new 5G contracts spanning private wireless networks in manufacturing, mining, and rail, alongside early-stage metaverse development for industrial and enterprise applications.
Major contract wins covered include Bharti Airtel’s first 5G award split between Ericsson and Nokia, TIM’s 5G deployment partnership with Ericsson in Italy, and AIS’s network modernisation agreement with ZTE in Thailand. Ericsson’s completed acquisition of Vonage is examined for how it extends the vendor’s ambitions in cloud communications APIs, positioning the deal as a bridge into a broader digitalisation opportunity beyond traditional network equipment.
- Vendors covered: Nokia, Ericsson, and ZTE
- Major deals: Bharti Airtel–Ericsson/Nokia, TIM–Ericsson, AIS–ZTE, and Ericsson’s acquisition of Vonage
- Also covered: R&D spending trends, supply chain challenges, and early metaverse initiatives for enterprise use
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