Country’s telecom exports may drop by about 40 per cent if uncertainty about Nokia's plant near Chennai continues and production is affected, the Telecom Equipment & Services Export Promotion Council said.
“This year, we saw a dip in telecom equipment exports due to lower contribution from Nokia, which generally accounts for about 70 per cent of handset exports. In case the uncertainty continues regarding their plant, we apprehend there may be a drastic decline in exports,” TEPC Secretary RK Pathak said at an event organised by Singapore Exhibitions Services here.
The Finnish handset major plans to close its $7.2 billion deal to sell its mobile devices and services business to Microsoft on April 25. The handset and other asset components will be handed over to Microsoft's Finnish entity Microsoft Mobile.