Based on their financial performance in 2023, Ericsson was bigger than Nokia in terms of revenue.
In 2023, Ericsson generated substantial revenue, slightly exceeding that of its Finnish competitor, Nokia. Specifically, Ericsson reported nearly $24.8 billion in revenue, whereas Nokia's revenue for the same period was $24.1 billion. This indicates that Ericsson held a larger share in terms of sales figures compared to Nokia in that particular year.
While "bigger" can be interpreted in many ways—such as market capitalization, number of employees, or global presence—the most direct comparison using readily available financial data for 2023 points to Ericsson having a larger top-line financial performance.
For broader context within the telecommunications equipment market, another significant player, Samsung's network division, recorded sales of approximately $2.9 billion in 2023. This highlights the competitive landscape where Ericsson and Nokia maintain leading positions.
2023 Revenue Comparison: Telecom Equipment Giants
To clearly illustrate the revenue figures, consult the table below:
| Company | 2023 Revenue (Approx.) |
|---|---|
| Ericsson | $24.8 billion |
| Nokia | $24.1 billion |
| Samsung (Network Division) | $2.9 billion |
It's important to note that both companies, as well as Samsung's network division, experienced a revenue slump in 2023. This trend marked the 5G era's first record-low year for some players, partly due to changes in their business mix affecting margins. Despite these market conditions, Ericsson maintained a slight lead over Nokia in terms of overall revenue.
For more information on these companies, you can visit their official websites:
