Q2 2024 Wireless RAN Equipment Vendor Financial Analysis

The Year of Mobile Operators Delevering their Balance Sheets

Disclaimer: I do not own any stocks or securities of Ericsson, Nokia, or Samsung Electronics.

All three non-Chinese wireless RAN equipment vendors have reported their Q2 2024 financials and on a sequential basis off a seasonally weak Q1, both Ericsson and Nokia reported revenue growth for their mobile network segments while Samsung Networks was flat. YoY comparables were less favorable for all three RAN equipment vendors as mobile operators globally continue to manage their balance sheets and debt. The year 2024 will be known as the year of "delevering the balance sheet" for the wireless industry.

The 100 billion dollar/euro question is when does the wireless RAN equipment market recover and where (outside of China of course!)?

Exhibit 1: Wireless Equipment Vendor Sales, Q1 2023 - Q2 2024

EJL Wireless Research is launching a new series of financial analysis research briefs looking in depth into the wireless networking financial performance of three wireless RAN equipment vendors: Ericsson, Nokia Corporation, and Samsung Electronics Co., Ltd. These reports offer an in-depth dive into management discussions in addition to our perspective on what happened and the outlook and guidance provided by company management for wireless network sales. All of the critical data NOT published in the press releases and behind-the-wall analysis of the companies. The focus of these reports is not to dive deeply into each business segment, and/or business unit but to focus solely on wireless networks.

Understand what is truly going on with a specific company with these research briefs that are targeted to wireless industry executives. Contact EJL Wireless Research for more information on these and other research products.

Exhibit 2: EJL Wireless Research Financial Research Brief Products