Falling revenue: Research firms have been saying this for some time. Now, the Voice and Data annual telecom survey—the most respected collation of data on the performance of telecom firms in India—shows that Nokia India saw an 11.8 percentage point fall in its market share between 2008-09 and 2009-10. The firm’s revenue in the same period fell from Rs16,567 crore to Rs14,100 crore. Indeed, parent Nokia Corp’s annual report for 2009 admits that the Indian arm’s revenue fell from €3.72 billion in calendar 2008 to €2.81 billion in calendar 2009.
Nokia’s loss was the gain of rival Samsung and local firms. A NokiaIndia spokesperson said that there were “two big factors that impacted the industry in the last fiscal—fluctuating currency exchange rates and erratic hike in value-added tax in multiple states across the country.”