Nokia Siemens Networks gained market share and ground on its rivals in the overall wireless network equipment market in the third quarter, according to a new report from research firm Dell'Oro Group.
The report noted that Nokia Siemens saw its overall market share rise from 18 percent to 20 percent in the quarter. Market leader Ericsson (NASDAQ:ERIC) slipped from 35.5 percent to 34 percent while No. 2 Huawei maintained its market share at 22 percent, according to Dell'Oro.
"Nokia Siemens Networks had a good quarter driven by revenues that were recognized with KDDI and Softbank," said Dell'Oro analyst Stefan Pongratz, according to Reuters. Indeed, last month NSN highlighted Asia-Pacific as a region that helped drive its results in the quarter, with its sales there up 29 percent year-over-year. In North America, Nokia Siemens is benefiting from being a part of T-Mobile USA's $4 billion network modernization project, which includes an LTE deployment. T-Mobile will launch LTE next year and expects to cover around 200 million POPs with LTE by the end of 2013.
Nokia Siemens posted a record non-IFRS profit of around $410.5 million in the third quarter and grew its cash balance for a fourth straight quarter. The company is undergoing a massive transformation as it shifts its primary focus to mobile broadband and jettisons unnecessary business units. To cut costs, the company is expected to shed up to 17,000 jobs by the end of 2013.
Interestingly, Dell'Oro also estimated that Nokia Siemens overtook Alcatel-Lucent (NASDAQ: ALU) as the No. 2 LTE vendor in the world by revenue in the third quarter, a reversal from the second quarter when Ericsson and Alcatel-Lucent led the LTE market.
Nokia Siemens was quick to trumpet that aspect of the report, noting that its share of the LTE RAN market has grown to 21 percent, four times what it was a year ago when NSN was ranked as the fourth largest LTE vendor. Dell'Oro said NSN led the LTE RAN market in the Asia-Pacific region, an area that accounts for 41 percent of the world's LTE revenue.
- see this Reuters article
- see this NSN release
Nokia Siemens gets boost from Asia-Pacific in strong Q3
Ericsson posts 43% slump in Q3 profit, despite strong North American sales
Alcatel-Lucent posts Q3 loss, considers unspecified asset sales to boost finances
Dell'Oro: Ericsson, Alcatel-Lucent lead surging LTE gear market